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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

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

Cornerstones of Financial Accounting
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter7: Operating Assets
Section: Chapter Questions
Problem 36BE: Analyzing Fixed Assets Pitt reported the following information for 2018 and 2019: Required: Compute...
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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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