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Hello can you please help me with this question as I know the answer but not the steps exactly
ABC has a non current asset at a cost of 2260,000 at the start of year 2008.
During the year the following transaction took place.
Noncurrent asset with a cost of 545,000 was purchased.
Asset costing 290,000 was sold for 130,000.
A building which has cost of 700,000 and net book value (carrying amount) of 350,000 was revalued to 900,000.
What is the balance of noncurrent asset cost account at 31 Dec 2008?You must watch my free lectures on this, because it is a very simple question,
The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well.
If you know the answer then presumably your book also shows the workings, so ask about which of the workings you are not clear about and then I will explain.
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