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Question 1 Allcan Trading has the following non-current assets at 31 December 2021. Assets Office...

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Question 1 Allcan Trading has the following non-current assets at 31 December 2021. Assets Office equipment Office equipment Cost (RM) 240,000 360,000 Purchase Date 1 September 2020 30 April 2021 Depreciation (per annum) Reducing balance 10% Reducing balance 10% On 1 June 2021, the equipment which was purchased in the year 2020 was traded-in with a new equipment costs RM180,000. Assuming financial year ends at 31 December and the computation of depreciation is based on monthly basis. Required: Prepare the following accounts of the office equipment: a) Office equipment account. b) Depreciation account. c) Accumulated depreciation account. d) Disposal account. (5 marks) (3 marks) (2 marks) (4 marks)

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