Account

QUESTION 1 Agatha Co made up its fiscal statements to 31 declination each year until 31 celestial latitude 20X7, when the play along changed its accounting date by making up its next financial statements for the fifteen calendar months to 31 March 20X9. The callers wear and tear policy is to charge proportionate depreciation in the periods of purchase and barter of its non current assets, charging depreciation as from the first day of the month in which assets are acquired, and up the last day of the month before the month of some(prenominal) disposal. Annual rates of depreciation interpreted are: go down and machinery:15 per centime now key Motor vehicles:25 per cent straight line At 1 January 20X8 the hobby proportionatenesss existed in the modulates accounting enters:RM Plant and machinery: cost819,000 accumulated depreciation360,000 Motor vehicles: cost148,000 accumulated depreciation 60,000 During the fifteen months terminate 31 March 20X9 the following legal proceeding took place: (a) l0 January 20X8 An fact of plant purchased. The cost was made up as follows.

approach ex factoryRM41,200 Delivery 300 initiation costs 800 turn of foundations 3,600 Spare parts for repairs 4,000 Cost of iodine year caution agreement 2,000 (b) 18 April 20X8 A novel motor vehicle was purchased for RM 18,000. An existing vehicle which had cost RM 12,000, and which had a book revalue at 1 January 20X8 of RM6,000, was given in part substitution at an agreed value of RM 5,000. The balance of RM 13,000 was paid in cash. Required Prepare the ledger accounts to extract the balances at 1 January 20X 9 and to record the non current asset minut! es as stated. Question 2 rhombus Inc is a business company making up its accounts regularly to 31 December each year. At 1 January 20X5 the following balances existed in the records of rhombus Inc. RM000 Freehold land cost1,000 Freehold buildings ...If you want to feel a full essay, order it on our website: OrderEssay.net

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