J Ingenuity purchased two machines for cash on 2 January 2021.

Machine 1 cost $8800 ($8000 + $800 GST) and is depreciated at 25% p.a. diminishing balance.

Machine 2 cost $11 000 ($10 000 + $1000 GST) and is depreciated at 10% straight line, with nil residual value.

J Ingenuity has a 30 June balance date.

On 1 September 2022, machine 1 was sold for $6050 ($5500 + $550 GST) cash and machine 3 was purchased for $13 200 ($12 000 + $1200 GST) on credit and depreciated at 35% p.a. diminishing balance.

Prepare:

a a time line from 2 January 2021 to 30 June 2023 b depreciation worksheets to 30 June 2023 c extract general ledger asset accounts, depreciation expense, disposal and gain or loss on disposal accounts to 30 June 2023, and d an extract income statement and balance sheet for 30 June 2023.