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Please answer in english.Show the how to calculate if it necessary Question 2 2019 May 1 Purchased old vehicle for RM5,300. The useful life is

image text in transcribedPlease answer in english.Show the how to calculate if it necessary

Question 2 2019 May 1 Purchased old vehicle for RM5,300. The useful life is expected to be 2 years with a salvage value of RM500. Required: Prepare a schedule to calculate the depreciation expenses for each year throughout the useful life of the vehicle following method is chosen: a. b. C. d. Straight-line method Reducing balance method (depreciation rate is 60% a year) Prepare vehicle account, depreciation account and accumulated depreciation account. Prepare the partial of Statement of Comprehensive Income for the year ended 31 December 2019 & 2021 e. Prepare the partial of Statement of Financial Position as at 31 December 2019 & 2021

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