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The following were extracted from the books of G6 Enterprise as at 31 December 2015 Non-Current Assets Date of Purchase
Posted: Mon May 02, 2022 6:42 am
by answerhappygod
- The Following Were Extracted From The Books Of G6 Enterprise As At 31 December 2015 Non Current Assets Date Of Purchase 1 (196.41 KiB) Viewed 28 times
The following were extracted from the books of G6 Enterprise as at 31 December 2015 Non-Current Assets Date of Purchase Cost (RM) Machinery 6 April 2012 360,000 Office Equipment 18 October 2013 500,000 During the year 2015, G6 Enterprise purchased the following assets. Non-Current Assets Date of Purchase Cost (RM) Machinery 20 March 2015 68,000 on credit from MZ Machines Office Equipment 7 July 2015 20,000 by cheque All assets are depreciated in full in the year of purchase. The policy of the company to charge depreciation is as follows: Machinery 20% per annum on cost on yearly basis Office Equipment 10% using reducing balance method on yearly basis For the year ended 31 December 2015, you are required to prepare the: (a) All non-current assets accounts. (8 marks) Accumulated depreciation accounts for both assets. (8 marks) Statement of Financial Position (extract) (9 marks) (b) (c)