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Show the extract of the Balance sheet

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Question - EZ Bhd. bought 5 specialised machines on 1 January 2003. Each machine costs RM 100,000. The machines' useful life is 10 years with no residual value. EZ Bhd uses the straight line method of depreciation. Since these machines are specialised, they do not have a market value. On 31 December 2005, it was found that the demand for the products manufactured by the machines had declined, thus the machines' value in use was only RM 320,000. On 31 December 2006 the demand for the products picked up and the value in use of the machines was RM 290,000.

Required - Show the extract of the Balance sheet as at 31 December 2005 and the extract of the Balance Sheet as at 31 December 2006.

Reference no: EM132538027

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