Equipment costing $12 716 ($11 560 + $1156 GST) was purchased on 30 November 2021 and installed and commissioned on 31 January 2022 at an additional cost of $5148 ($4680 + $468 GST). Depreciation of 15% p.a.

straight line method was to apply. The equipment has an estimated residual value of $1100 ($1000 + $100 GST).

More equipment was purchased and installed on 28 February 2022 at a total cost of $18 458 ($16 780 +

$1678 GST), with an estimated residual value of $2200 ($2000 + $200 GST). The diminishing balance method of depreciation is to be used at a rate of 32% p.a. Prepare:

a a time line for equipment 1 and equipment 2 purchases to 30 June 2023 b depreciation worksheets to 30 June 2024 c an extract income statement for the year ended 30 June 2023 d an extract balance sheet as at 30 June 2023.