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Intragroup Asset Sale

Forums › ACCA Forums › ACCA FR Financial Reporting Forums › Intragroup Asset Sale

  • This topic has 0 replies, 1 voice, and was last updated 6 years ago by xinping5288.
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  • February 16, 2019 at 4:38 pm #505383
    xinping5288
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    • Topics: 1
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    On 1 Jul 08, S sold an equipment with a carrying amount of 60k to P for 100k. The equipment was acquired on 1 Jan 07, no residual value and has a useful life of 5 years. Prepare a consolidated statement of financial position as at 31 Dec 08.

    I know that we should use the overdepreciation of 40. Using straight line method, I’m not sure about the #years we should take into account. When S sold to P, it has already been 1year6months.

    Thanks.

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