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Hi, I was wondering why is depreciation not charged in year 4? I was under the impression that depreciation is charged in the year of sale unless otherwise stated therefore I get the value of the asset to be £983.04 before it is sold.
Are we expected to do a time-apportioned in the final year (unless otherwise stated)? So in this case the time apportioned charged would be 0 in the final year since it was sold at the beginning of the year?
Given that it was sold at the very start of the fourth year it will not be depreciated in the fourth year 🙂