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I am trying to solve a question and it just mentioned the following:
-Buildings are depreciated at 5% per annum “on their original cost”.
Does that mean it should be solved using the straight-line method?
Also, What does (Equity Shares $1), (Retained earnings) & ( Share Premium Account) ?
For your question on depreciation – yes, it means it is straight line.
For your second question, you need to watch our free lectures – you cannot expect me to type them out here 🙂
Our free lectures are a complete course for Paper F3 and cover everything needed to be able to pass the exam well.
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