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depreciation

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › depreciation

  • This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.
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  • November 12, 2015 at 1:19 pm #281957
    storm
    Member
    • Topics: 14
    • Replies: 12
    • ☆

    a companys plant and machinery ledger account for year ended 30 september 2002 was as follows
    plant and machinery
    2001$ 2 002$
    1 oct balance 381200 1 jun disposal account cost of asset sold 36000
    1 dec cash addition 18000 30 sept balance 363200
    399200 399200
    depreciation is straight line 20% per year with proportionate dep in years of purchase and disposal
    what is dep charge fr year ended 30 sept 2002
    please help

    November 13, 2015 at 6:43 am #282077
    John Moffat
    Keymaster
    • Topics: 56
    • Replies: 51571
    • ☆☆☆☆☆

    Is there no answer in the book in which you found the question??

    The cost was 381200 from 1 October to 30 November. That is 2 months and so the depreciation for this period is 2/12 x 20% x 381200.

    It then increased to 381200 + 18,000 = 399,200, and stayed at this amount from 1 December to 30 May which is 6 months. So the depreciation for this period is 6/12 x 20% x 399200.

    It then fell to 399200 – 36000 = 363200 and stayed at this amount from 1 June to 30 September which is 4 months. So the depreciation for this period is 4/12 x 20% x 363200.

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