I have some issues concerning a question in june 2012 Biscuits and cakes.
-In part (d), the revised net assets has been calculated by doing $23.2M + $2.12M= $25.32M
-My issues is that why depreciation has not been deducted from the net assets? If we DR dep exp, then I presume we should CR Acc Dep, therefore reducing the value of the asset and hence the net asset