The non-current assets and accumulated depreciation accounts of Bell Berhad had the following balances at 31 December 2020:

Non-current assets:	Cost (RM)	Accumulated depreciation (RM)
Land	350,000	-
Land improvement	180,000	45,000
Buildings	1,500,000	350,000
Machinery and equipment	1,158,000	405,000
Automobiles	150,000	112,000

Transactions during 2021 were as follows:

a) On 2 January 2021, machinery and equipment were purchased at a total invoice cost of RM260,000, which included a RM5,500 charge for freight. Installation costs of RM27,000 were incurred.

b) On 31 March 2021, a machine purchased for RM58,000 in 2007 was sold for RM36,500. Depreciation recorded through the date of sale totaled RM24,650.

c) On 1 May 2021, expenditures of RM50,000 were made to repave parking lots at Bell's plant location. The work was necessitate by damage caused by severe weather.

d) On 1 November 2021, Bell acquired a tract of land with an existing building in exchange for 10,000 of its ordinary shares that had a market price of RM38 per share. Bell paid legal fees and title insurance totaling RM23,000. Shortly after acquisition, the building was razed at a cost of RM35,000 in anticipation of new building construction in 2022.

e) On 31 December 2021, Bell purchased a new automobile for RM15,250 cash and trade-in of an old automobile purchased for RM18,000 in 2017. Depreciation on old automobile recorded through 31 December 2021, totaled RM13,500. The fair value of the old automobile was RM3,750.

Required:

(i) Prepare a schedule that shows the costs that should be capitalized in each non-current assets account as of 31 December 2021 (with the detailed supporting computation).

(19 marks)

(ii) Prepare a schedule showing the gain or loss from each asset disposal that would be recognized in Bell's income statement for the year ended 31 December 2021.

(6 marks)

(iii) For each asset classification, prepare a schedule showing depreciation expense for the year ended 31 December 2021, using the following depreciation methods and useful lives:

Land improvements - Straight line; 15 years.

Building - 150% declining balance; 20 years.

Machinery and equipment - Straight line; 10 years.

Automobiles - 150% declining balance; 3 years.

Depreciation is computed to the nearest month and no residual values are used.

(15 marks)