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Accumulated Depreciation

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Accumulated Depreciation

  • This topic has 3 replies, 2 voices, and was last updated 11 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
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    Posts
  • April 8, 2014 at 2:30 pm #164775
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    following is a problem:

    Machine #: 10
    Date of Purchase: 1.11.x1
    Original Cost: 1000
    Depreciation rate: 10%

    a straight line method is used and it is assumed that at the ed of its life, there will a residual value of 10% of the original cost.

    a full year’s depreciation is charged in the year of purchase.

    what is the accumulated depreciation till dec 31st x5?

    *** my problem is that the useful life has not been given so can i compute the annual charge?

    annual dep=(cost-Residual value)/useful life
    this imples: 900/useful life.

    but the useful llife is not given!

    thanks for the help

    April 9, 2014 at 6:52 am #164833
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54718
    • ☆☆☆☆☆

    10% straight line is the same as straight line over 10 years (just as 20% straight line is the same as straight line over 5 years)

    April 9, 2014 at 2:27 pm #164881
    mansoor
    Participant
    • Topics: 424
    • Replies: 542
    • ☆☆☆☆

    Thank you Sir!!

    April 9, 2014 at 2:47 pm #164885
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54718
    • ☆☆☆☆☆

    You are welcome 🙂

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    Posts
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