Hanzolah Sdn Bhd is a company selling health products. The following table shows the summarized transactions of the company's asset: Date of purchase | Type of vehicle Cost (RM) | 1 July 2014 Perodua Myvi 65,000 1 September 2015 Van 60,000 1 July 2017 Lorry 80,000 Perodua Myvi was traded in for a new vehicle. Perodua Alza on 1 October 2018. The purchase price of the new vehicle was RM55,000. The trade in value was RM16,000 and the remaining balance was paid by cheque. Van was sold on 1 October | 2018 for RM22,000 Depreciation value of vehicle is at 10% on cost per annum. Note all calculation must be rounded up to the nearest RM
Hanzolah Sdn Bhd is a company selling health products. The following table shows the summarized transactions of the company's asset: Date of purchase | Type of vehicle Cost (RM) | 1 July 2014 Perodua Myvi 65,000 1 September 2015 Van 60,000 1 July 2017 Lorry 80,000 Perodua Myvi was traded in for a new vehicle. Perodua Alza on 1 October 2018. The purchase price of the new vehicle was RM55,000. The trade in value was RM16,000 and the remaining balance was paid by cheque. Van was sold on 1 October | 2018 for RM22,000 Depreciation value of vehicle is at 10% on cost per annum. Note all calculation must be rounded up to the nearest RM
Hanzolah Sdn Bhd is a company selling health products. The following table shows the summarized transactions of the company's asset: Date of purchase | Type of vehicle Cost (RM) | 1 July 2014 Perodua Myvi 65,000 1 September 2015 Van 60,000 1 July 2017 Lorry 80,000 Perodua Myvi was traded in for a new vehicle. Perodua Alza on 1 October 2018. The purchase price of the new vehicle was RM55,000. The trade in value was RM16,000 and the remaining balance was paid by cheque. Van was sold on 1 October | 2018 for RM22,000 Depreciation value of vehicle is at 10% on cost per annum. Note all calculation must be rounded up to the nearest RM
Calculate Depreciation ,accumulated depreciation(Provide Table of calculation) and record transaction in Vehicle A/c,Acumulated Depreciation and Vehicle Disposal a/c for year 2018 only and also record transaction in statement of financial position as on December 2018(Extract)
Transcribed Image Text:Hanzolah Sdn Bhd is a company selling health products. The following table shows
the summarized transactions of the company's asset:
Date of purchase
|Type of vehicle
Cost (RM)
1 July 2014
Perodua Myvi
65,000
1 September 2015
Van
60,000
1 July 2017
Lorry
80,000
Perodua Myvi was traded in for a new vehicle. Perodua Alza on 1 October 2018. The
purchase price of the new vehicle was RM55,000. The trade in value was
RM16,000 and the remaining balance was paid by cheque. Van was sold on 1 October
2018 for RM22,000
Depreciation value of vehicle is at 10% on cost per annum. Note all calculation must
be rounded up to the nearest RM
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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