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Kindly help me to calculate the acquisition figure for the payment of non current assets with the information provided below.
The non current assets for the year 2006 , $26 574 and the year 2007 , $44 282.
Additiona Information:
Depreciation for the year was $4658
Assets with a carrying value of $1974 were disposed of at a profit of 720Have you watched my free lectures on depreciation? (The lectures are a complete free course for Paper F3 and cover everything needed to be able to pass the exam well).
I assume that the question tells you that non-current assets given in the question (26574, and 44282) are the carrying values (net book values).
In which case, had there been no additions, then the value at the end of 2007 would be 26574 – 4658 – 1974 = 19942.
Since the actual value is 44282, the acquisitions must have been 44282 – 19942 = 24340.
Why are you attempting questions for which you do not have a printed answer? You should be using a Revision Kit from one of the ACCA approved publishers. The have answers together with workings.
Sir can you tell me that how to treat allowance for doubtful debts and bad debts in cash flow statement
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