Section 260 Marks Question 1 (30 Marks A. On July, 2004. Taiping Company pay REMO,000.00 to acquire a fully apped Backey. The purchase involves the following assets: Aici Appraised Salvare Useful Life Depreciation Value Value Metted Land 160,000.00 Not deprecatel Land improve 80,0000 Nil 10 years Straight-line Building 320,000 10 years Double declining Machinery 240,000.00 20.000,00 10.000 units blue Total 800,000 Uni-o-production The rochiryk wed padece Toata 2017 and 1. In Required 1. Alicet al RM600, DOIL00 purus colmong the separate Marks 2. Compute the 2017 isi monit) and 2018 depreciation expense for each asset and compute total depreciation expense for both years 3. On the first day of 2019. Taiping Ca exchanged the machinery that was acquired on July 14, 2017, and RM5,000.00 cash for similar machinery with a RM210,000.00 market value Journalize the exchange of these similar and 4 On the last day year 2019. Taiping Ca dicasted machinery talad been on its books for five years. The machinery'sunyital cost wa RM12,000.00 (tiled live of five years and its salvage value was RM2,000. No depreciation led been recorded for the fifth year when the disposal occurred Jumalize the tinh year of deprecation straight-line method and the assets disposal 14. Marks! 3. At the beginning of year 2019. Taiping Co purchased a petent for RM100.000,00 cash. The comparty estimated the patient's useful life to be 10 years. Journals the potent acquisition and its amortization for the year 2012 14. Marks! Late in the year 2019. Taiping Ca acquired an ore deposit for ROW.00.00 cash. It added roak and built mine sults for an additional cost of RMNO, COLOL Salvage value of the mine is exlillo la RM2000.00 The company estimaal 330,000 tons of available ore. In year 2019. Taiping Co mind and sold 10.000 tons of org Joumalize the mine's acquisition and its first year's depletion 13 Mars 12 B Your start-up internet services company nak call and you are preparing financial sements to apply for a short-term loan. A friend suggests that you treat as many expenses as possible as capital expenditures Required: What are the impacts on financial statements of this suggestion? What do you think is the aim 5. Marks Section 260 Marks Question 1 (30 Marks A. On July, 2004. Taiping Company pay REMO,000.00 to acquire a fully apped Backey. The purchase involves the following assets: Aici Appraised Salvare Useful Life Depreciation Value Value Metted Land 160,000.00 Not deprecatel Land improve 80,0000 Nil 10 years Straight-line Building 320,000 10 years Double declining Machinery 240,000.00 20.000,00 10.000 units blue Total 800,000 Uni-o-production The rochiryk wed padece Toata 2017 and 1. In Required 1. Alicet al RM600, DOIL00 purus colmong the separate Marks 2. Compute the 2017 isi monit) and 2018 depreciation expense for each asset and compute total depreciation expense for both years 3. On the first day of 2019. Taiping Ca exchanged the machinery that was acquired on July 14, 2017, and RM5,000.00 cash for similar machinery with a RM210,000.00 market value Journalize the exchange of these similar and 4 On the last day year 2019. Taiping Ca dicasted machinery talad been on its books for five years. The machinery'sunyital cost wa RM12,000.00 (tiled live of five years and its salvage value was RM2,000. No depreciation led been recorded for the fifth year when the disposal occurred Jumalize the tinh year of deprecation straight-line method and the assets disposal 14. Marks! 3. At the beginning of year 2019. Taiping Co purchased a petent for RM100.000,00 cash. The comparty estimated the patient's useful life to be 10 years. Journals the potent acquisition and its amortization for the year 2012 14. Marks! Late in the year 2019. Taiping Ca acquired an ore deposit for ROW.00.00 cash. It added roak and built mine sults for an additional cost of RMNO, COLOL Salvage value of the mine is exlillo la RM2000.00 The company estimaal 330,000 tons of available ore. In year 2019. Taiping Co mind and sold 10.000 tons of org Joumalize the mine's acquisition and its first year's depletion 13 Mars 12 B Your start-up internet services company nak call and you are preparing financial sements to apply for a short-term loan. A friend suggests that you treat as many expenses as possible as capital expenditures Required: What are the impacts on financial statements of this suggestion? What do you think is the aim 5. Marks