Question
Fylder Construction Bhd bought a full hydraulic carrier-mounted crane. The cost was RM155,000. The company expected to used the crane for 5 years and provides
Fylder Construction Bhd bought a full hydraulic carrier-mounted crane. The cost was RM155,000. The company expected to used the crane for 5 years and provides for salvage value at the end of five years to be RM15,000. As the Finance Manager for the company, you suggested that the company implements a straight line method depreciation. Your company director has no knowledge on depreciation, therefore you are preparing a report on the carrier-mounted crane depreciation to present to him. You needed the following information to be included in the report.
(a) Calculate the annual depreciation. (4 marks)
(b) Prepare the depreciation schedule (10 marks)
(c) Prepare the accumulated depreciation account for the first 3 years.
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