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Ection in statement of financial position Question 2 Test Bank: Q1 J19 Below are the non...

Question:

ection in statement of financial position Question 2 Test Bank: Q1 J19 Below are the non current assets purchased by Teguh Be
ection in statement of financial position Question 2 Test Bank: Q1 J19 Below are the non current assets purchased by Teguh Bersatu Sdn Bhd in the current year (1 July 2014 until 30 June 2015) and all payments are made by cheque. Assets Date of purchase 1 July 2014 1 October 2014 1 January 2015 Cost Machineries RM55,000 RM13,000 RM4,000 Furniture and fittings Furniture and fittings Additional information: Depreciation policy for non current assets is month to month basis and the methods are as below: : Straight line method with 10 years useful life and zero disposal value. Machineries Furniture and : Reducing balance method with 20% rate. fittings 212

Answers

Depreciation (1 July 2014 until 30 June 2015) : RM 5,500 Machineries RM 2,350 Furniture and fittings (RM 1,950 + RM 400) Work

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