1. Mr Hidayat is a sole trade who maintain his non-current asset at cost. On 31 December 2019, he owned the following non-current asset which had been depreciated on a yearly basis: Cost (RM) 260,000 74,000 Accumulated Depreciation (RM) 70,000 37,200 Asset Motor vehicles Fixtures During the year ended 31 December 2020, motor vehicles worth RM100,000 and fixtures worth RM13,000 were purchased. The motor vehicles were depreciated at 10 % per annum using the straight-line method and the fixtures at 20% per annum using the reducing balance method. Required: a) Motor vehicles account b) Fixtures account c) Accumulated depreciation accounts for each of the non-current assets for the ended 31 December 2020

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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1. Mr Hidayat is a sole trade who maintain his non-current asset at cost. On 31 December
2019, he owned the following non-current asset which had been depreciated on a
yearly basis:
Cost (RM)
260,000
74,000
Accumulated Depreciation (RM)
70,000
37,200
Asset
Motor vehicles
Fixtures
During the year ended 31 December 2020, motor vehicles worth RM100,000 and
fixtures worth RM13,000 were purchased.
The motor vehicles were depreciated at 10 % per annum using the straight-line
method and the fixtures at 20% per annum using the reducing balance method.
Required:
a) Motor vehicles account
b) Fixtures account
c) Accumulated depreciation accounts for each of the non-current assets for the
ended 31 December 2020
d) Statement of Financial Position (extract) as at 31 December 2020
Transcribed Image Text:1. Mr Hidayat is a sole trade who maintain his non-current asset at cost. On 31 December 2019, he owned the following non-current asset which had been depreciated on a yearly basis: Cost (RM) 260,000 74,000 Accumulated Depreciation (RM) 70,000 37,200 Asset Motor vehicles Fixtures During the year ended 31 December 2020, motor vehicles worth RM100,000 and fixtures worth RM13,000 were purchased. The motor vehicles were depreciated at 10 % per annum using the straight-line method and the fixtures at 20% per annum using the reducing balance method. Required: a) Motor vehicles account b) Fixtures account c) Accumulated depreciation accounts for each of the non-current assets for the ended 31 December 2020 d) Statement of Financial Position (extract) as at 31 December 2020
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