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depreciation

This topic has 1 reply, 2 voices, and was last updated 11 years ago by Sangria9.

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May 12, 2013 at 7:34 pm #125275
lubhavnee
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- Topics: 8
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COST OF BUILDING R1500,000
The building is depreciated at 5 % of cost..
the building was professionally valued at R1800,000 and the directors wish this valuation to be incorporated in the accounts.
how to calculate depreciation?
May 13, 2013 at 8:33 am #125305
Sangria9
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- Topics: 25
- Replies: 285
As depreciation method isn’t changed, depreciate it as previous – 5% of cost:
depreciation for the year after revaluation: 5%*1800,000 = 90,000
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