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1 (30 Marks) On 1 January 2019, Boller Mech Bhd bought a copier machine for RM20,000. The estimated economic life of the asset is 5
1 (30 Marks) On 1 January 2019, Boller Mech Bhd bought a copier machine for RM20,000. The estimated economic life of the asset is 5 years. The machine was sold for RM 7,500 on 16^("th ") September 2021. Boiler Mech Bhd always provides full year depreciation in the year of purchase and no depreciation in the year of disposal, using straight-line method. The financial year end of the company is at 31^("st ") December every year. Required: Prepare the following accounts for the year ended 31^("th ") December 2019, 2020 and 2021 a) The Machine Account (at Cost) (10 marks) b) The Provision for Depreciation Account (11 marks) c) The Disposal Account (9 marks)
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