Depreciation

Hi, You have to work out how many years of depreciation have already been charged based upon the accumulated depreciation of $3,600. One year worth of depreciation is $12,000/20 years = $600. As $3,600 has been accumulated then 6 years of depreciation must have been charged ($3,600/$600), and hence 14 years remaining at the start of the financial year. As the asset is revalued after 6 months of the financial year then there will be a remaining useful life of 13 years and 6 months (i.e. 13.5 years). Hope that helps. Thanks