QUESTION 2 FM Sdn Bhd, a private limited company, whose financial year ends on 31 December. The following are the details of one of the property, plant and equipment: motor vehicle: Date Model Amount (RM) Payment Mode 30 July 2018 Toyota Hilux 122,500 Cheque 15 March 2019 Nissan NV350 150,000 Cheque The depreciation policy of the motor vehicle is as follows: (i) The depreciation rate is at 25% per annum using reducing balance method. (ii) A full year's depreciation is charged in the year of acquisition and none in the year of disposal. (The depreciation amounts are to be rounded to the nearest Ringgit) On the 28 November 2020, the company decided to dispose off the Toyota Hilux which was bought in 2018 for RM16,000 to Yap Dealer. The term of payment is that RM10,000 cheque will be received on that date and the balance is to be receivable on 15 January 2021. Required a) Prepare the following ledger accounts for the years ended 31 December 2018, 2019 and 2020: (i) Motor vehicle (5 marks) (ii) Accumulated for depreciation for motor vehicle (7 marks) (iii) Disposal of motor vehicle (6 marks) b) List TWO (2) causes of depreciation. (2 marks)