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Motor vehicles purchased for RM500,000 at the start of the year have been incorrectly depreciated for the whole year using the straight line method at
Motor vehicles purchased for RM500,000 at the start of the year have been incorrectly depreciated for the whole year using the straight line method at 10% instead of 15%. The balances at the ledger after the entries have been posted were as follows: Debit Motor vehicles at cost RM500,000 Credit Accumulated depreciation RM50,000 Which entries will correct this error? Select one: a. Debit Accumulated depreciation RM25,000; credit Depreciation expense RM25,000. o b. Debit Accumulated depreciation RM75,000; credit Depreciation expense RM75,000. c. Debit Depreciation expense RM25,000, credit Accumulated depreciation RM25,000. d. Debit Depreciation expense RM75,000; credit Accumulated depreciation RM75.000
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