Hi John!
I have some issues concerning a question in june 2012 Biscuits and cakes.
-In part (d), the revised net assets has been calculated by doing $23.2M + $2.12M= $25.32M
-My issues is that why depreciation has not been deducted from the net assets?
If we DR dep exp, then I presume we should CR Acc Dep, therefore reducing the value of the asset and hence the net asset
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june 2012
8y ago#1I am away from home until late this evening and I do not have access to the June 2012 exam.
Please ask again tomorrow and I will answer you first thing in the morning :-)
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