Kevin Hair purchased sophisticated machinery on credit costing $192 500 ($175 000 + $17 500 GST). It has a residual value of $5500 ($5000 + $500 GST) and was commissioned on 1 March 2021. The depreciation method is based on 50 000 units, using the units of use method. The annual usage from the commission date is expected to be:

from 1 March 2021, 15 000 units from 1 March 2022, 25 000 units from 1 March 2023, 10 000 units.

Each year’s units are produced evenly throughout the months.

Prepare:

a workings indicating the units used for the years ended 30 June 2021 to 2024 b a depreciation worksheet for the units of use depreciation method from 1 March 2021 to 30 June 2024 c the machinery and accumulated depreciation – machinery general ledger accounts to 30 June 2024, and d an extract balance sheet as at 30 June 2024.