H Bilberry purchased a machine on 31 July 2021, to be depreciated by the straight line method at 15% p.a., which cost $26 312 ($23 920 + $2392 GST). Installation and commissioning was completed on 31 August 2021 at an additional cost of $8448 ($7680 + $768 GST). The estimated residual value was $1430 ($1300 + $130 GST).

A second machine was purchased and installed on 1 October 2021 and was to be depreciated using the units of use method based on hours of usage totalling 17 000 hours. The cost including installation and commissioning was $192 500 ($175 000 + $17 500 GST). A residual value of $5500 ($5000 + $500 GST) was anticipated. Usage to 30 June 2022 was 1875 hours and to 30 June 2023 2800 hours.

Prepare:

a a time line for machine 1 and machine 2 to 30 June 2023 b depreciation worksheets for both machines to 30 June 2023, and c the extract general ledger accounts for machinery and the associated depreciation accounts to 30 June 2023.