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Raflesia Berhad purchased a machinery on 30 June 2018. at a cost of RM80,000. The residual value of the machinery was es
Posted: Thu Apr 28, 2022 10:28 am
by answerhappygod
- Raflesia Berhad Purchased A Machinery On 30 June 2018 At A Cost Of Rm80 000 The Residual Value Of The Machinery Was Es 1 (23.36 KiB) Viewed 36 times
Raflesia Berhad purchased a machinery on 30 June 2018. at a cost of RM80,000. The residual value of the machinery was estimated to be RM5.000 at the end of a five-year life. The machinery was sold on 31 March 2022. for RM17.000. Raflesia Berhad uses a straight-line depreciation method for all of its plant and equipment. Partial-year depreciation is calculated based on the number of months the asset is in service. Required: By showing the workings clearly. ) Prepare the journal entry to record the sale. (11 marks) i) Assuming that Raflesia Berhad had instead used the sum-of-the-years-digits depreciation method, prepare the journal entry to record the sale. (13 marks) Total Q2 = 24 marks