A lorry was bought for RM 40,000 cash on 10/1/2016. A second lorry was bought on 28/1/2016 at the price of RM50,000 cash.
Depreciation rate is 10% per annum on cost. Show for the financial years ending 31/12/2016, 31/12/2017 and 31/12/2018:
i. The calculation for depreciation
ii. The Vehicle Account
iii. The accumulated depreciation for Vehicle Account
