Answer Posted / sanmilan
All Assets have a Life Span. The capacity or productivity of
particular asset need not be same as initial years after
using the same for 5 years. So cost of acquiring an asset is
spread over the estimated life of the assets. This is called
Depreciation.
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The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
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