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QUESTION 3 (20 MARKS) (a) Explain TWO (2) factors of depreciation. (6 marks) (b) Goldenfox Sdn Bhd. purchased a machinery for RM50,000 on 5 January

QUESTION 3 (20 MARKS)

(a) Explain TWO (2) factors of depreciation.

(6 marks)

(b) Goldenfox Sdn Bhd. purchased a machinery for RM50,000 on 5 January 2019. Calculate the depreciation charged for 2019, 2020 and 2021 using reducing balance method at 15% depreciation per year.

REQUIRED:

Prepare the relevant table that show:

i. The total cost

(1 marks)

ii. Depreciation charged

(3 marks)

iii. Accumulated depreciation

(3 marks)

iv. Net book value of the asset.

(3 marks)

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