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Hi, i have done q2 page 195, part of the mini excerises in the OT notes, but dont quite understand the answer.
can u help me..
The Question is S sold PPE to H for 65,000. Cost is 100,000 when new 4 yrs ago and useful life of 9 yrs had not changed. est scrap proceeds is 10,000 revised on transfer to H to 20,000. i get that the excess pup is 5,000, but i dont get how excess dep’n of 1,000 was arrived at? can you please explain9 years of useful life was at the start, now that 4 years has passed so remaining useful life is 5 years and so 5000 divided by 5 and we get 1000.
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