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Aurora Layar Sdn Bhd purchased a building on 1.1.2016 for RM2,000,000. The useful life of the building was estimated to be 30 years and scrap
Aurora Layar Sdn Bhd purchased a building on 1.1.2016 for RM2,000,000. The useful life of the building was estimated to be 30 years and scrap value was determined to be RM100,000. On 1.10.2021, the plant was classified as held for sale'. The fair value less cost to sell was RM1,200,000.
Required:
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Illustrate the accounting treatment of the above transaction in accordance to the MFRS 5 Non-current Assets Held for Sale. (10 marks)
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Illustrate any five types of preference share. (10 marks)
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