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Pls provide date/ month / year. Thank you Sejati Bhd buys a new...

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Accounting

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Pls provide date/ month / year. Thank you

Sejati Bhd buys a new machinery for RM10,000 on 1 January 2018. The machinery is estimated to be used for 5 years. After exactly 3 years, however, the machinery is suddenly sold for RM5,000. Sejati Bhd always provide a full year's depreciation in the year when assets are purchased and no depreciation in the year when assets are disposed. Required: Prepare the accumulated depreciation for machinery accounts and machinery disposal accounts for years 2018, 2019 and 2020: Using the straight-line depreciation method (assume 20% p.a.). (7 marks) b. Using the reducing balance depreciation method (assume 40% p.a.). (8 marks)

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