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May 5, 2020 at 2:14 pm
sir, in question no 3 In JAN 1 2003 the machinery is purchased and yaer end is 30 june why dep is from july to dec why not from jan to june and so on
May 13, 2020 at 8:38 pm
The question wants the depreciation for the year to June 20X4, so from 1 July X3 to 30 June X4.
As the asset was revalued on 1 January X4, there will be depreciation from 1July X3 to 31 December X3 when the asset was held at cost of 160,000, and also a new depreciation charge from 1 January X4 to 30 June X4 following the revaluation to 162,000.
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