question archive Question 3 (a) A firm acquired two motor vehicles, details of which are as follows: Registration number WMT3146 WLA7360 Date of purchase 31 May Year 2 1 February Year 3 Cost price RM120
Question 3 (a) A firm acquired two motor vehicles, details of which are as follows: Registration number WMT3146 WLA7360 Date of purchase 31 May Year 2 1 February Year 3 Cost price RM120
Subject:AccountingPrice: Bought3
Question 3 (a) A firm acquired two motor vehicles, details of which are as follows: Registration number WMT3146 WLA7360 Date of purchase 31 May Year 2 1 February Year 3 Cost price RM120.000 RM180,000 The firm prepared accounts annually to 31 December and provided depreciation for motor vehicles on a reducing balance method at a rate of 20% per annum with full year depreciation Required: Show extracts of the following for years ended 31 December Year 4 and 31 December Year 5: (1) Income Statement (extract) (9 marks) (ii) The non-current assets section of the Balance Sheet (6 marks)
