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Hi John
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.
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