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june 2011

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › june 2011

  • This topic has 5 replies, 2 voices, and was last updated 11 years ago by MikeLittle.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • November 12, 2013 at 6:43 pm #145720
    d245
    Member
    • Topics: 56
    • Replies: 38
    • ☆☆

    Rose purchased plant for 20 million on 1 may 07 with estimated life of 6 yrs.residual value of 1.4 million .At 1 may 2010 the estimated residual value changed to 2.6 million .The change hasnot been taken to the financial statement of 30 april 2011?
    Kindly solve this .

    November 12, 2013 at 7:27 pm #145727
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    Is it 2.7 depreciation and carrying value of 8 million as at 1 May, 2011?

    November 12, 2013 at 10:36 pm #145743
    d245
    Member
    • Topics: 56
    • Replies: 38
    • ☆☆

    yes as per the solution but i dont understand y
    at 1may 2010 cost 20 -2.6=17.4
    As the the 3yrs have passed away .Arent we going to depriciate from remaining 3 yrs.
    depriciation.17.4/3=5.8

    November 13, 2013 at 5:34 pm #145865
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    20 depreciated at 3.1 per annum gives a net book value of 10.7

    Realisable value changes to 2.6 leaving 8.1 to be depreciated over the remaining 3 years at 2.7 per annum

    And 10.7 – 2.7 gives a net book value of 8 at the end of the fourth year

    OK?

    November 14, 2013 at 10:27 am #145960
    d245
    Member
    • Topics: 56
    • Replies: 38
    • ☆☆

    .Thx u .God bless you

    November 14, 2013 at 12:43 pm #145983
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23327
    • ☆☆☆☆☆

    You’re welcome

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