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FRFR - Chapter 7 (IAS 36) - Exam prep question

EE4y ago
Good day Sir, This refers to the exam prep question at the end of Chapter 7 in the study text for FR exam.All figures are expressed as ($ '000s). In the workings for office building I see that the depreciation is calculated as $500 and would like to know how the figure was arrived at. I assumed that if the useful life has been changed to 10 years in the middle of the acc period and the Carrying value of the asset is now $14, 000 then the depreciation for the year would be as follows (14, 000/10 yrs x 6/12) = $ 750. In the schedule of adjustments to the retained earnings, I see that the 2nd depreciation is written as $750 so I'm a bit confused. Thanks in advance.
EE4y ago#1
Just found out that i need to use the Ask the Tutor forums.
AAli4y ago#2
Hi. The question you are referring to is been updated, as mentioned by the Tutor in following thread: https://opentuition.com/topic/chapter-7-exam-preparation-question-2/
EE4y ago#3
OK, thank you.
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