Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The following information is about a machine in RXY Berhad. It will be repeated in THREE (3) questions: Machine 1 July 2019 120,000 0 Acquisition

image text in transcribed
image text in transcribed
image text in transcribed
The following information is about a machine in RXY Berhad. It will be repeated in THREE (3) questions: Machine 1 July 2019 120,000 0 Acquisition date Cost Price (RM) Residual Value (RM) Useful Life Basis of Measurement Depreciation method Accounting year end Feb 28 2020 5 years Cost Model Reducing balance-rate of 20% 31 December every year purchased a new component to the machines to increase the performance, RM80,000 cash. As a result, the rate of depreciation was reduced to 15%. Determine the carrying amount of the machine as 28 February 2020, after the new component was purchased Select one Da RM184400 Ob RM120.000 OC RM104 400 Od RM108,000 Machine Acquisition date 1 July 2019 Cost Price (RM) 120,000 Residual Value (RM) 0 Useful Life 5 years Basis of Measurement Cost Model Depreciation method Reducing balance-rate of 20% Accounting year end : 31 December every year Feb 28 2020 purchased a new component to the machines to increase the performance, RM80,000 cash. As a result, the rate of depreciation was reduced to 15%. Determine the accumulated depreciation account as at 28 February 2020 Select one: Oa RM24,000 Ob RM15.600 Oc RM3,600 Od RM12,000 Machine Acquisition date 1 July 2019 Cost Price (RM) 120,000 Residual Value (RM) 0 Useful Life 5 years Basis of Measurement Cost Model Depreciation method Reducing balance-rate of 20% Accounting year end 31 December every year Feb 28 2020 purchased a new component to the machines to increase the performance, RM80,000 cash. As a result, the rate of depreciation was reduced to 15%. 1. What is the depreciation expenses for the year 2020? Select one Da RM24000 Ob. RM23,050 c RM26,650 d. RM3.600

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

Cost Accounting For Managerial Planning Decision Making And Control

Authors: Andrew Schiff, Hsihui Chang, Woody M Liao, James L Boockholdt

5th Edition

0759340412, 978-0759340411

More Books

Students also viewed these Accounting questions

Question

Explain how to reward individual and team performance.

Answered: 1 week ago