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UsmanAsim.
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UsmanAsim
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Hello Chris,
https://www.youtube.com/watch?v=DCnDzUEeBHA&feature=emb_imp_woyt
Im a bit confused on how excess depreciation transfers have been made in example 2 of the lecture ive linked to above.
Are transfers from revaluation reserve to retained earnings for excess depreciation done each year subsequently after a revaluation? or is it just done on the first year of revaluation?
P2-D2
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Hi,
No, it is done for every year after the revaluation has been done. Depreciation is an annual charge and so the excess depreciation will therefore arise every year too.
Thanks
UsmanAsim
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Thank you so much! much appreciated.
UsmanAsim
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