Murchison Ltd purchased an Acme threshing machine Model 388 from Altona Farm Machinery on 19 September 2022 and has given it an asset number of MT06.

The machine cost $14,800 (net of GST) and is located at the company's Inverell office. The expected life of the asset is 5 years at which time its scrap value will be $1,000. The machine is to be depreciated to its residual value over 5 years on the diminishing balance using the ATO suggested rate.

Complete an asset register card for the machine, showing details of the purchase and a depreciation schedule for the asset to 30 June 2028. Murchison Ltd requires that depreciation for part years is calculated based on the number of days and all depreciation amounts are to be shown correct to 2 decimal places.

Murchison Ltd - Asset Register, Machinery
Asset Name: Acme Threshing Machine	Model: 388
Date Purchased: 19 Sept 2022	Purchased from: Altona Farm Machinery
Asset Cost: $14,800.00
Asset Number: MT06
Location: Inverell Office
Estimated Life: 5 years
Depreciation method: Diminishing Balance
Amount/Rate per year: 40%