ACCOUNT METHOD

Assume land area is 19,995sqf and land value is RM100 psf

i) Land
Area
(sqf) RM psf Value (RM)

19,995 100 1,999,500.00 (3 MARKS)

ii) Building
Area Total Value
(sqf) Building Value (RM) (RM)
Cost
(RMpsf)

Main Bldg. 1,556 42 65,352.00

Canopy 4,478
21 94,038.00
Toilet/Store 325
40 13,000.00
Car shed 450
4 1,800.00

174,190.00 (10 MARKS)

2,173,690.00

iii) Improvement 0.055 119,552.95 (1 MARK)

2,293,242.95
TOTAL (1 MARK)

iv) Machineries
Cost Per
Litres Units Litre Value (RM)
(RM)
Leaded tank 25,000 4 0.8
80000
Unleaded
20,000 4 0.7
tank 56000
Tank 27,000 1 0.65 17550
Diesel tank 18,000 2 0.5 18000

171,550.00
Depreciation
0.65 111,507.50 (8 MARKS)

60,042.50

OPEN MARKET VALUE 2,353,285.45

say 2,353,000.00
(1 MARK)
So, gross profit is RM2,353,000.00 (1 MARK)