Required: a) Prepare the depreciation schedule for machineries and furniture and fittings b) Journalize the: purchase of non current assets for the current year ii) adjustment for depreciation for the year c) Prepare the: i) Machineries account Furniture and fittings account Accumulated depreciation-machineries Accumulated depreciation-furniture and fittings iv) d) The extract of Statement of Financial Position as at 30 June 2015 Required: al Prepare the depreciation schedule for machineries and furniture and fittings b) Journalize the: purchase of non current assets for the current year ii) adjustment for depreciation for the year c) Prepare the: i) Machineries account Furniture and fittings account Accumulated depreciation-machineries iv) Accumulated depreciation-furniture and fittings d) The extract of Statement of Financial Position as at 30 June 2015 Question 2 Test Bank: Q1 J19 Below are the non current assets purchased by Teguh Bersatu Sdn Bhd in the current year (1 July 2014 until 30 June 2015) and all payments are made by cheque. Assets Date of purchase Cost Machineries 1 July 2014 RM55,000 Furniture and fittings 1 October 2014 RM13,000 Furniture and fittings 1 January 2015 RM4,000 Additional information: Depreciation policy for non current assets is month to month basis and the methods are as below: : Straight line method with 10 years useful life and zero disposal value. Machineries Furniture and fittings : Reducing balance method with 20% rate