QUESTION 2 Below information were extracted from the books of Ellee Enterprise as at 31 December 2014: Non-current asset

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Question 2 Below Information Were Extracted From The Books Of Ellee Enterprise As At 31 December 2014 Non Current Asset 1 (55.16 KiB) Viewed 32 times

QUESTION 2 Below information were extracted from the books of Ellee Enterprise as at 31 December 2014: Non-current assets Cost (RM) Net book value (RM) 36,000 Machinery 45,000 Depreciation method per annum 10% using straight line method 10% using reducing balance method 5% on cost Motor Vehicles 80,000 450,000 64,800 400,000 Buildings On 5th January 2015, Ellee Enterprise bought a new lorry costing RM40,000 to help them increase its efficiency in terms of delivering their goods. For all assets above, you are required to: (a) Show the calculation of depreciation for year 2015. (4 marks) (b) Prepare the depreciation account for year ending 31 December 2015. (6 marks) (c) Prepare the accumulated depreciation account for year ending 31 December 2015. (12 marks) (d) Explain briefly why land are not being depreciated. (3 marks)