[hadiraza982]

49% is heart broken, but never give up.

[hadiraza982]

This seems true they are tricking us to get fee every time and this exam is getting on my nerves now.

[hadiraza982]

i will definitely look at the lectures and thank you for your advice

[hadiraza982]

im sorry i mean iam Retaking performance management exam in dec 2018.

[hadiraza982]

Thank you sir, i will watch your videos, much appreciated.

[hadiraza982]

Thank you sir

[hadiraza982]

i have read the example 7 again and i found the retained earning for the year end 2016
70,000 and 49,000
ignore my question
Thank you

[hadiraza982]

Thank you, it make sense.
Appreciate your quick response.

[hadiraza982]

Thanks for your reply, I don’t understand in this question, they do not consider life of an asset
so the answer in my book says 15000-2000×20%x3.5 years which give me value of depreciation.

but in straight line method it should be 15000-2000/5 years

would you please make me understand why we are not dividing by 5 years

thanks

[hadiraza982]

Hi Mr John,
I need your help to solve this question:
accounting year end 30th June, it purchased an item of plant on 1 April 2005 at cost of $15000,at the date of purchase, the item of plant and equipment had an estimated useful life to the business of five years and an estimated residual value of $2000’This item of plant was traded in for a replacement item on 30 September 2008 at an agreed valuation of $5000.it has been depreciated at 20 percent per annum on a straight line basis, with a pro rated charge in the year of acquisition and disposal. Calculate profit or loss on disposal of the item of plant.

[Author]

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