Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Pls provide date/ month / year. Thank you Sejati Bhd buys a new machinery for RM10,000 on 1 January 2018. The machinery is estimated to

image text in transcribed

Pls provide date/ month / year. Thank you

Sejati Bhd buys a new machinery for RM10,000 on 1 January 2018. The machinery is estimated to be used for 5 years. After exactly 3 years, however, the machinery is suddenly sold for RM5,000. Sejati Bhd always provide a full year's depreciation in the year when assets are purchased and no depreciation in the year when assets are disposed. Required: Prepare the accumulated depreciation for machinery accounts and machinery disposal accounts for years 2018, 2019 and 2020: Using the straight-line depreciation method (assume 20% p.a.). (7 marks) b. Using the reducing balance depreciation method (assume 40% p.a.). (8 marks)

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

Accounting A Smart Approach

Authors: Mary Carey, Cathy Knowles, Jane Towers-Clark

3rd Edition

0198745133, 978-0198745136

More Books

Students also viewed these Accounting questions