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Hi Chris,
the question asks for the amounts shown for the year ended 31 Dec 2015. I completely understand and follow the workings but shouldn’t it say Dec 2014 since the calculations we arrive at are for 31/12/14?
Hi,
Good to see you’ve been working through the PPE chapter in detail and glad you understand it.
We have to work out the carrying value at 31 December 2014 to then apply the new estimate of depreciation which will be applied from 1 January 2015. Once we’ve applied this new depreciation figure for a year we are then at 31 December 2015.
Thanks
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