Financial Accounting

A truck was acquired for RM96,000 on 1 Jan 2020. The truck is expected to be replaced with a newer. model at the end of its fifth year with a trade-in value estimated to be around RM21,000. The value of the truck and its accumulated depreciation at the end of the third year, are shown as: A. B. Truck RM57,600, Accumulated Depreciation RM57,500 C. Truck RM75,000, Accumulated Depreciation RM75,000 D Truck RM45,000, Accumulated Depreciation RM51,000 Truck RM51,000; Accumulated Depreciation RM45,000 An office building with an acquisition cost of RM960,000 on 1 April 2019 is depreciated at 10% per annum. The necessary adjusting entry for the period ended at 3| December 2019 is A. Depreciation Expense Debit (RM) Credit (RM) Accumulated Depreciation RM72,000 B. Depreciation Expense RM72,000 RM96,000 Accumulated Depreciation RM96,000 C. Accumulated Depreciation RM72,000 Depreciation Expense RM72,000 D. Accumulated Depreciation RM96,000 Depreciation Expense RM96,000 The balance in the Office Supplies account before adjustment at 31 December 2019 was RM48,000. A physical check on office supplies has indicated an available balance of RM8,000. The adjusting entry necessary is: Debit (RM) Credit (RM) A. Office Supplies Expense RM8,000 Office Supplies RM8,000 B. Office Supplies RM40,000 Office Supplies Expense RM40,000 C. Office Supplies Expense RM40,000 Office Supplies RM40,000 D. Office Supplies Expense RM48,000 Office Supplies RM48,000