Alif Enterprise showed the following details of non-current assets as at 31 May 2021: Type Cost Accumulated Method of Basis Depreciation (RM) depreciation depreciation rate (RM) Plant and machinery | 150,000 30,000 Reducing balance Yearly 20% Office equipment 47,000 4,700 Straight line Monthly 10% During year 2021, the business bought additional non-current assets. The information on new purchased is as follow: Type Cost (RM) Date of purchase Payment method Plant and machinery 35,500 13 October 2020 Deposit of RM10,000 was paid by cheque and the balance was financed with loan from Ambank Office equipment 12,000 8 January 2021 Settlement by cheque Required: (a) Explain TWO (2) characteristics of asset. [2 marks] (b) Prepare the following accounts for the year ended 31 May 2021: (1) Plant and Machinery [3 marks] (ii) Office Equipment [2 marks] ABAF014 Trimeste (iii) Provision for Depreciation - Plant and Machinery (iv) Provision for Depreciation - Office Equipment (c) Prepare an extract of the Statement of Financial Position as at 31 May 2021. Alif Enterprise showed the following details of non-current assets as at 31 May 2021: Type Cost Accumulated Method of Basis Depreciation (RM) depreciation depreciation rate (RM) Plant and machinery | 150,000 30,000 Reducing balance Yearly 20% Office equipment 47,000 4,700 Straight line Monthly 10% During year 2021, the business bought additional non-current assets. The information on new purchased is as follow: Type Cost (RM) Date of purchase Payment method Plant and machinery 35,500 13 October 2020 Deposit of RM10,000 was paid by cheque and the balance was financed with loan from Ambank Office equipment 12,000 8 January 2021 Settlement by cheque Required: (a) Explain TWO (2) characteristics of asset. [2 marks] (b) Prepare the following accounts for the year ended 31 May 2021: (1) Plant and Machinery [3 marks] (ii) Office Equipment [2 marks] ABAF014 Trimeste (iii) Provision for Depreciation - Plant and Machinery (iv) Provision for Depreciation - Office Equipment (c) Prepare an extract of the Statement of Financial Position as at 31 May 2021