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Lee Carpenter has purchased three different equipment for its furniture making processes. The following information is related to its three non-current assets that will be

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Lee Carpenter has purchased three different equipment for its furniture making processes. The following information is related to its three non-current assets that will be used to build various types of furniture: Non-current Engraving Woodworking Carpentry tools assets machine machine Date of 1.1.2020 1.1.2020 1.1.2020 purchase Purchase cost RM150,000 RM60,000 RM70,000 Useful 10 years 4 years 20,000 tools set life/estimated production Resale value RM20,00 Nil RM5,000 Depreciation Straight-line Reducing balance Usage of tools set method at 20% Other information: i. All non-current assets are charged with full depreciation for the year of acquisition. Accounting year is 1st January to 31st December every year. ii. Usage of carpentry tools is 2,000 sets for year 2020. Required: Calculate the annual depreciation expenses for non-current asset for the year 2020. Answer in the template provided. (Full working is required)

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