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Question: Write an extract of financial statement from start until end for leasing. Scenario of purchase order his part provides a brief over view of

Question: Write an extract of financial statement from start until end for leasing.
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Scenario of purchase order his part provides a brief over view of the purchase scenario of company of Top Glove machinery and equipment. Top Glove, whose financial year end is on 31 December, had purchased a specialized machine on 1 February 2024. he following costs were incurred on the purchase of the machine: Listed price : RM 500,000 rade discount received : RM 15,000 Refundable Taxes : RM 2,000 Pre-production testing fees : RM 5,000 Installation charges : RM 50,000 Initial delivery costs : RM 1000 Custom Duties : RM 12000 t the end of the machine's useful life of 5 years, Top Glove is obliged to dismantle the machine and restore the site to its original condition. It is estimated that Top Glove will have o incur RM10,ooo for the dismantling and restoration costs at the end of 5 years. The cost of pital of Top Glove is 5%. On 1/1/2025, the machine required replacement of the major part which reduced the peration cost of the plant, which is amounted to RM50,ooo. On the same date, the purchase f the spare part is made amounted to RM 4,000. Furthermore, there is maintenance charge or 4 years amount to RM 5,000. The cost of staff training is RM 60,000 each year. The residual value of the machine will be RM 240,000 and the useful life of the machine is 5 years. op Glove's policy is to depreciate its machine at reducing balance method based on a ime apportionment basis. On 1/1/2026, the company changed its policy from the cost model to the revaluation model under IAS 16. On this date, the fair value of the machine is RM 420,000. There is no change to he remaining useful life and residual value. On 1/1/2028, Top Gloves performed the second revaluation on its machine. The fair value of its machine on this date was RM 240,000 and the residual value was revised to RM 180,000. here is no change to the remaining useful life. Prepare an extract financial statement for leasing

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