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Calculate the depreciation expense per annum for equipment

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Reference no: EM133134963

Question - (a) On 1 January 2021, Fatt Choy Sdn. Bh, purchased an equipment at a cost of RM130 000. The equipment is estimated to have a 5-year useful life and a salvage value (residual value) of RM5000 at the end of the 5 year. Calculate the depreciation expense per annum for the equipment.

(b) On 1 January 2019, Siva Sdn. Bid. Purchased a motor vehicle costing RM100 000, The equipment is to be depreciated at 109 per annum, using the reducing balance method. Show the following for the years ending 2019, 2020 and 2021:

(a) the motor vehicle account

(b) the depreciation expense account

(c) the accumulated depreciation account

(d) the extracts of the Statement of Profit and Loss

(e) the extracts of the Statement of Financial Position

Reference no: EM133134963

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