On Jan 31. 2018, Statement of Financial Position Majid Sdn Bhd shows the following information Fixed assets Vehicle Office Equipment relating to fixed assets: Cost (RM) 200,000 64,000 Date of Purchases 5 Mac 2015 5 Oct 2016

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Depreciation charges are calculated on an annual basis in which the expense will be recognized
in the year of purchase and no expense in the year of disposal.
These are the transactions on fixed assets for the year ended Dis 31, 2018.
Transactions
Cost (RM)
L
Vehicle purchase
Office equipment purchase
Vehicle purchase
Office equipment purchase
H.
REQUIRED:
a. Prepare accumulated depreciation accounts for the year ended 31 Dis 2018 for:
Vehicle
Office Equipment
70,000
20,000
PODLL001000
80,000
5,000
Date
August 1, 2018
September 15, 2018
November 1, 2018
January 1, 2018
Transcribed Image Text:Depreciation charges are calculated on an annual basis in which the expense will be recognized in the year of purchase and no expense in the year of disposal. These are the transactions on fixed assets for the year ended Dis 31, 2018. Transactions Cost (RM) L Vehicle purchase Office equipment purchase Vehicle purchase Office equipment purchase H. REQUIRED: a. Prepare accumulated depreciation accounts for the year ended 31 Dis 2018 for: Vehicle Office Equipment 70,000 20,000 PODLL001000 80,000 5,000 Date August 1, 2018 September 15, 2018 November 1, 2018 January 1, 2018
QUESTION 7
On Jan 31. 2018, Statement of Financial Position Majid Sdn Bhd shows the following information
Fixed assets
Vehicle
Office Equipment
relating to fixed assets:
Depreciation rate are as follow:
Fixed assets
Vehicle
Office Equipment
Cost (RM)
200,000
64,000
Depreciation Rate
20%
10%
Date of Purchases
5 Mac 2015
5 Oct 2016
Depreciation Method
Straight Line
Reducing Balance
Transcribed Image Text:QUESTION 7 On Jan 31. 2018, Statement of Financial Position Majid Sdn Bhd shows the following information Fixed assets Vehicle Office Equipment relating to fixed assets: Depreciation rate are as follow: Fixed assets Vehicle Office Equipment Cost (RM) 200,000 64,000 Depreciation Rate 20% 10% Date of Purchases 5 Mac 2015 5 Oct 2016 Depreciation Method Straight Line Reducing Balance
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