Answer Happy

QUESTION 4 Xenon Sdn Bhd is a company that provides secretarial services. The company closes its account on 31 December every year. On 1 July 2014, the company had bought fixtures and fittings cost RM82,000. Xenon Sdn Bhd decided to charge depreciation for the fixtures and fittings at the rate of 15 percent using reducing balance method on yearly basis. Full depreciation is charge for the year regardless when the asset is purchased. You are required to: (a) Calculate the depreciation charge for the year 2014 and 2015 (5 marks) (b) Prepare the following accounts for the year ended 2014 and 2015: i. Fixtures and fittings account. (3 marks) ii. Depreciation account. (3 marks) Prepare accumulated depreciation account. (4 marks)