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Answer ALL questions QUESTION 1 (25 MARKS) The following was extracted from the balance sheet of Hajat Sdn Bhd on 30 June 2010 Non-current Assets
Answer ALL questions QUESTION 1 (25 MARKS) The following was extracted from the balance sheet of Hajat Sdn Bhd on 30 June 2010 Non-current Assets Office Equipment Accumulated Depreciation Net Book Value RM 68,000 18,800 49,200 On 12 August 2018, a computer at the cost of RM18,000 was sold at RM15,100. The computer was bought on 30 April 2017. On 1 February 2019, the company bought two computers priced at RM9,800 each. The company policy is to depreciate office equipment at the rate of 15% annually using the reducing balance method based on monthly basis. Required: Prepare the following accounts on 30 June 2019. i. The Office Equipment Account (4 marks) ii. The Accumulated Depreciation of Office Equipment (9 marks) iii. The Disposal of Office Equipment Account (6 marks) iv. Explain THREE (3) factors to be considered when companies calculate the depreciation charge for a year. (6 marks)
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