FA Chapter 6 Questions Depreciation
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Qn 2. Why did we subtract the 30,000? Why do we have to add the depreciation expense from Jan 2014 to Oct 2014 even though the machine is sold on 1 Jan 2014?
Thank you in advance.
It was sold on 1 Jan 2014, but this is during the accounting period ending on 31 October 2014 (i.e. from 1 November 2013 to 31 October 2014).
Hi, Could you please help me to understand Q2,
Why do we have to add the depreciation expense from Jan 2014 to Oct 2014 even though the machine is sold on 1 Jan 2014?
Thank you in advance.