Chap 10, example 1

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July 27, 2017 at 12:48 pm #399012
mansoor
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in the example, there is no mention whether the company makes the reserve transfer entry … the excess depreciation.

in the exam…do we always make the transfer entry or will the policy be explicitly mentioned?

regards
July 29, 2017 at 8:19 am #399238
P2-D2
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Hi,

In past exams it has been the same whereby they have not mentioned that the transfer is done. It is assumed that it is done however as it is beneficial for the entity to do so.

Thanks
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