On 1 April 2016, Syarikat Juice Buzz bought a RM24,000 machine. On 1 January 2017, the company bought another RM28,000 machine.
The machine depreciation rate for machine is 20% on cost (the depreciation is calculated based on the monthly usage of the machine). In December 2018, the machine purchased in 2016 was old for RM17,000. The Syarikat Juice Buzz's financial year ends on 31 December.
Prepare the following accounts for 3 years until 31 December 2018:
(a) Machinery account.
(b) Accumulated depreciation account for machinery.
(20 marks, 2019 Q3)