4. The assets listed below belongs to Paradise Ltd and the information for each asset on...
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4. The assets listed below belongs to Paradise Ltd and the information for each asset on 31 December 2011 are given. ACCUMULATED DEPRECIATION ASSET COST MOTOR RM 258400 RM 119000 VEHICLE DEPRECIATION INFORMATION 12% p.a. straight line method, full depreciated in the year of purchase, none in the year of disposal PLANT AND MACHINERY RM 564000 RM 144000 15% p.a. reducing balarice method, full depreciated in the year of disposal, none in the year of purchase 15 Apr 2012 19 Oct 2012 Purchased a packaging machine at RM34,000, paid for it by cheque Sold a truck at the price of RM76,880. The truck was purchased in 4 July 2010 at the cost of RM88,000 22 July 2013 Purchased an inspection machine at the cost of RM28,000 by cash You are required to prepare the following accounts until 31 December 2013: (a) Motor vehicle account (b) Plant and machinery account (c) Accumulated depreciation account for motor vehicle (d) Accumulated depreciation account for plant and machinery (e) Disposal account for the relevant asset 4. The assets listed below belongs to Paradise Ltd and the information for each asset on 31 December 2011 are given. ACCUMULATED DEPRECIATION ASSET COST MOTOR RM 258400 RM 119000 VEHICLE DEPRECIATION INFORMATION 12% p.a. straight line method, full depreciated in the year of purchase, none in the year of disposal PLANT AND MACHINERY RM 564000 RM 144000 15% p.a. reducing balarice method, full depreciated in the year of disposal, none in the year of purchase 15 Apr 2012 19 Oct 2012 Purchased a packaging machine at RM34,000, paid for it by cheque Sold a truck at the price of RM76,880. The truck was purchased in 4 July 2010 at the cost of RM88,000 22 July 2013 Purchased an inspection machine at the cost of RM28,000 by cash You are required to prepare the following accounts until 31 December 2013: (a) Motor vehicle account (b) Plant and machinery account (c) Accumulated depreciation account for motor vehicle (d) Accumulated depreciation account for plant and machinery (e) Disposal account for the relevant asset
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Paradise Ltd Asset Accounts a Motor Vehicle Account Date Description Debit Credit Balance 31Dec2011 ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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