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And then for example there’s qn about depreciation : 1 jan 20×2
Purchase :100,000
residual : 4000
Useful life : 4 yearsThen in 1 jan 20×6 residual is revise to 3000 and useful life is 3 years. What’s the depreciation charge
Can I know how to solve this kind? I can’t rmb the figure correctly . U can change the figure if the number I provide is invalid
I assume that you found this question in your Revision Kit, in which case you surely have an answer?
As at 31 Dec X5, they will have depreciated for 4 years and so the carrying value will be 4,000.
If they then revise the residual value to 3,000 and a remaining useful life to 3 years then the depreciation charge will be (4.000 – 3,000) / 3 per year from then on.
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