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Question 1: Recognition and Depreciation

On 31 December 2020, Sunshine Ltd has the following records of acquisition on its property, plant and equipment:

Acquisitions for 2019:

No	Property, Plant & Equipment	Date of Purchase	Total Cost (RM)	Scrap Value (RM)
1	Motor Vehicle I	1 January 2019	110,000	10,000
2	Motor Vehicle II	3 April 2019	150,000	30,000
3	Motor Vehicle III	4 July 2019	200,000	20,000
4	Machinery I	3 July 2019	180,000	30,000
5	Land I	1 October 2019	300,000	-
6	Office Equipment I	30 December 2019	80,000	8,000

Acquisitions for 2020:

No	Property, Plant & Equipment	Date of Purchase	Total Cost (RM)	Scrap Value (RM)
1	Office Equipment II	1 February 2020	60,000	5,000
2	Motor Vehicle IV	3 Mac 2020	75,000	5,000
3	Machinery II	14 July 2020	90,000	4,000
4	Machinery III	16 July 2020	80,000	10,000
5	Office Equipment I	30 November 2020	40,000	3,000

The policies on PPE:

1. Except for land, all types of Property, Plant & Equipment are depreciated using straight line method.
2. All motor vehicles have an expected useful life of 10 years. Whereas, the machinery and office equipment have and expected useful life of 8 years.
3. The depreciation is calculated and provided on monthly basis. No depreciation will be provided if the ownership is less than or equal to 15 days in any of the month.

Required:

1. open up the relevant ledgers to record the transactions in 2019 and 2020.
2. the extract statement of comprehensive income for the year ended 31 December 2019 and 2020.
3. the extract of statement of financial position as at 2019 and 2020

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