Q.
Syarikat findWHERE purchased two vehicles on 01 January 2020. Details are as follows:
| Brand | Atoyot | Adzam |
|
Cost |
RM80,000 | RM68,000 |
|
Scrap Value |
RM5,000 | RM4,000 |
| Expected Life Expectancy | 10 Years | 10 Years |
(a) Calculate the annual depreciation for both vehicles for the year of 2020, 2021 and 2022 using the following methods.
(b) Straight line method.
(c) Reducing Balance of 15% per annum. (10 marks)
(d) Prepare a Vehicle Accumulated Depreciation Account for three accounting years from 01 January 2020 to 31 December 2022 using both methods. (10 marks)
(M2022-1 Q3, 20 marks)