Question

Question 5 The following information which is derived from the books of Salazar Sdn Bhd is related to the records of the noncurrent assets for this company: . İ January 2012, self-constructed a building with the total cost of RM 360,000. Expected to have useful life of 40 years with no salvage value 4 July 2015, purchased equipment with the total cost RM400,000 with the expected useful life 10 years. Scrap value is expected to be RM20,000. 3, 1 October 2015, purchased motor vehicle with the total cost RM280,000. Expected 4 1 January 2016, purchased two pieces of equipment with the incurred cost of RM80,000 5,1 January 2017, a professional value recommended that the building to be revalued at useful life of 5 years. No salvage value. and RM120,000 respectively. Both equipment will have 10 years of useful life with no expected salvage value. fair value RM700,000 with no salvage value. The company agreed to reflect the new value on its books of accounts. 30 March 2017, sold the equipment that was purchased on 4 July 2015. Cheque RM280,000 was received for the proceed of the sale. 7,) 1 April 2017, purchased motor vehicle with the total cost RM80000.Expected useful life of 7 years. Salvage value at RM10,000. 8. 2 July 2017, sold the equipment with the cost RM120,000 which was purchased on 1 January 2016. Cheque RM110,000 was received from the proceed of this sale. 30 March 2017, completed the construction of a building with the total cost RM500,000. Expected useful life of 25 years. No salvage value. 9, Further relevant information: Company's policy on noncurrent assets is to method on monthly basis. For the subsequent measurement, company adopts the write-of model and cost model. depreciate all the assets using straight line a. Required (a) For each year up to 31 December 2018, draw up the relevant accounts to show the effects of the above-mentioned transactions. (b) To prepare the extract Statement of Financial Position for each relevant year.

Answer 1

Reler ete 3 S, oeo Doo 3,42,000 OpD 下, i e, 4-8000 40 3 85 333

Notes ndy 2, 80003 - o do, o 0 5 Cast Loss Accaut ost 2.5J寸 t300
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