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The accounting year end is on 31st dec. it happened that, the company revalues all its buildings on 1 july. how to find the depreciation.
treatment 1.
depreciate based on revalued amt at 31st dec.
treatment 2.
depreciate based on previous amt upto 30th june and depreciate based on revalued amt for next 6 months.
which one is right?
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