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Memory Sdn Bhd bought a lorry for business at cost of RM17,000. The lorry is...

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Accounting

Memory Sdn Bhd bought a lorry for business at cost of RM17,000. The lorry is expected to depreciate at 35% per annum and then be sold for scrap for RM2,000. The annual depreciation charged to profit and loss account of Maxim Sdn Bhd is as following: Year RM 1 5,950 2 3,868 3 2,514 4 1,634 5 1,034 Required: a. Identify the depreciation method used by Memory Sdn Bhd (show relevant workings). (10 marks) b. Explain the suitability of the depreciation method. (5 marks)

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