Reference no: EM132856297
Question - AMER Bhd prepares interim half yearly reports. Its financial year-end is 31 December 2019.
(i) AMER Bhd depreciates its motor vehicle at 20% by applying the straight-line method. The cost of the motor vehicle at 1 January 2019 was 5 million. The company had purchase additional motor vehicle costing 1 million on 3 July 2019.
(ii) The furniture costing RM1 million was depreciated at 10% on cost. The company had purchased 500,00 value of furniture on 4 May 2019 but it was postponed to 10 July 2019.
(iii) The company had donated to AFX Charity on 5 November 2019. The amount was 500,000.
(iv) The cost of inventories was 800,000 and the net realisable value was 700,000. On 31 December 2016, the realisable value had increase to 900,000.
(v) AMER Bhd had carried out half-yearly maintenance on its motor vehicle. The cost of maintenance was 200,000 for each service.
Required - Discuss how the above items will be treated in the interim report.
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