Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer faster within 11.00 am today A business started operation in 2016. The following transaction were recorded in years 2016,2017 and 2018. 2016 February

please answer faster within 11.00 am today

image text in transcribed

A business started operation in 2016. The following transaction were recorded in years 2016,2017 and 2018. 2016 February 3 Amount RM100,000 March 25 August 7 September 10 Purchase motor van no WMG1012 Purchased furniture Purchase fixture and fittings Purchased equipment RM25,000 RM35,000 RM60,000 2017 March 2 April 9 June 24 July 4 Sold motor WMG1012 Bough motorcar WNN3452 Bought motor van WMQ8823 Bought equipment RM75,000 RM90,000 RM110,000 RM15,000 2018 May 23 Sold WNN 3452 RM75,000 You are required to calculate the depreciation charges for 2016,2017 and 2018 at 10% per annum using the reducing balance method on a month-to-month basis. Ownership of less than 15 days in any given month is considered not owned during month

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Introduction To Actuarial Science

Authors: John James Hardy

1st Edition

1332733697, 978-1332733699

More Books

Students also viewed these Accounting questions