Академический Документы
Профессиональный Документы
Культура Документы
Required:
a. Calculate the amount that will be recognised as plant.
b. Show the extract of the statement of profit or loss and other
comprehensive income of Robin.
c. Show the extract of the statement of financial position at the end
of year 1.
a. Calculate the amount that will be recognised as plant.
RM
Purchase price 1,200,000 x 90% 1,080,000
RM
c. Show the extract of the statement of financial position at the end of year 1
RM
Property plant and equipment 1,202,250
Accumulated depreciation (235,250)
967,000
Non-current liabilities:
Provision for dismantling and restoration 11,250 + 675 11,925
Question 4
page 470
Tom cruise operates a low-cost air transport system. One of its aeroplanes
was acquired on 1 January x2 for a total cost of RM400 million. The planes
components are as follows:
Component Cost RM million Useful life
Engine 120 3 years
Body 500 10 years
Furniture and fittings 120 5 years
Required:
Calculate the depreciation charge for the year ended 31
December x4 and disclose the carrying amount of plane.
RM m per Depreciation Carrying amount on
annum for x4 31.12.x4 RM m
Engine (old) 120/3 40 (old) 40 0
Engine (new) 150/4 37.5 (new) 37.5 150-37.5=112.5
77.5
Body 500/10 50 50 500-150=350
Furniture and 120/5 [(120- 15.25 120-48+5015.25
fittings 48)+50]/8 =106.75
Required:
Prepare extracts of the financial statements of Ray (including
revaluation reserve) for the years x2 to x 6.
1.1.x2 960,000/24 = RM40,000 pa
31.12.x3
Year x2 x3 = 40k x 2 RM
Carrying amount (960,000 80,000) 880,000 MV at 31/12/x3 =
Fair value 1,100,000 RM1,100,000
Surplus on revaluation 220,000
31.12.x4
Depreciation
1,100,000/22 = RM50,000 pa
Transfer from revaluation reserve to retained earnings 220,000/22 = RM10,000
Balance on revaluation reserve - RM220,000 RM10,000 = RM210,000
31.12.x5
Depreciation
1,100,000/22 = RM50,000 pa
Transfer from revaluation reserve to retained earnings 220,000/22 = RM10,000
Balance on revaluation reserve RM210,000 RM10,000 = RM200,000
MV at 31/12/x5 =
RM750,000
31.12.x5
RM
Carrying amount (1,100,000 100,000) 1,000,000
Fair value 750,000
Deficit on revaluation 250,000
Write off against revaluation reserve 200,000
Charge in profit or loss 50,000
Accumulated depreciation
As at 1.1 Nil 40,000 Nil 50,000
Depreciation 40,000 40,000 50,000 50,000
Transferred -> due to revaluation Nil (80,000) Nil (100,000)
As at 31.12 40,000 Nil 50,000 Nil
Carrying amount 920,000 1,100,000 1,050,00 750,000
Revaluation reserve
x3 x4 x5
RM RM RM
As at 1.1 Nil 220,000 210,000
Surplus 220,000
Transfer to retained earnings Nil (10,000) (10,000)
De ficit on revaluation (200,000)
As at 1.12 220,000 210,000 0