Cleaning Truck The following details relate to a street cleaning truck which was imported from Germany: $NZ

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Cleaning Truck
The following details relate to a street cleaning truck which
was imported from Germany:
$NZ
Purchase price paid 30/06/05
128 000
Freight Germany - Wellington 7
000
New pollution free vacuum unit added
16 000
Insurance in transit 2
000
New Tyres 15/07/05 5 000
Insurance premium paid, Y/E 15/07/06
3 000
Insurance premium paid, Y/E 15/07/07
4 000
Required:
i) The truck became operational on 30/06/05.
Calculate the Cost
Price of the truck.
ii) Using 20% D V depreciation, show the relevant
Balance Sheet extract for this truck as at 31/03/07.
Sorting Machine
Fruitful Ltd bought a fruit sorting machine for $63,500 on 1
February 2006. It has an estimated life of 10 years.
The company is using diminishing value depreciation at
25%.
Required:
Show the relevant Income Statement & Balance Sheet extract
for the year ended 30 September 2006 and 2007 (use whole dollars
only).