1. Question 5 The relevant data for assets in Abrar Bhd as at 31 March 2016 are as follows: Accummulated Acquisition Date Cost Depreciation Carrying Value Asset RM RM RM Machine A 30 June 2012 20,000 7,500 12.500 Machine B 30 November 60,000 14,000 46,000 2013 Motor Vehicle 31 March 2015 50,000 10.000 40.000 Office Equipment 1 April 2014 2,000 720 1.280 Asset Method of Depreciation Subsequent Measurement Machine A&B Straight Line Method Revaluation Model (expected useful life 10 years) Motor Vehicle Reducing Balance Method (20%) Revaluation Model Office Equipment Reducing Balance Method (20%) Cost Model Additional information: On 2 January 2017, machine A was traded in for a new one costing RM40,000. Abrar Bhd had paid RM25,000 by cheque being the balance of purchase price for the new machine. 2. On 5 April 2016, Abrar Bhd assessed the carrying amounts of its assets as follows: Machine B was revalued at RM50,000, with an expected remaining useful life of 8 years. (ii) The estimated recoverable amount for motor vehicle was valued at RM42,000. 3. On 31 March 2017, Abrar Bhd sold its office equipment for cash and received cheque by RM1,200. Required: (a) Compute the depreciation charge for each of the asset for the year ended 31 March 2017. [6 marks) (b) Prepare the journal entries for the year ended 31 March 2017 to record (i) the acquisition of new machine the revaluation the impairment loss (if any), and the disposal of equipment [7 marks] (c) Explain the accounting treatment for the year ended 31 March 2017 in accordance with MFRS116 Property. Plant and Equipment for (i) motor vehicle machine B [3 marks] (d) Prepare Statement of Profit or Loss and Other Comprehensice Income (extract) for the year ended 31 March 2017 [4 marks] Page 5 of 5