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Hello,
I saw this question in Kaplan .a business non-current asset had a carrying amount of $125000. an asset which had cost $12000 was sold for $9,000, at a profit of $2,000.
What is the revised carrying amount of non current asset ?option a 113000
Option b 118000
Option c 125000
Option d 127000.can you please even tell what is carrying amount of non current asset and revised carrying amount of non current asset as it is even not mentioned in the book.
The carrying amount is another name for the net book value.
The revised carrying amount is the new net book value after accounting for the sale of the asset. So you take the current 125,000 and remove the carrying value of the asset that was sold (which had a carrying value of 7,000).
Have you not watched my free lectures on this? The lectures are a complete free course for Paper MA and cover everything needed to be able to pass the exam well.
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