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Thank you tutor for your excellent lectures!
I have a guestion concerning keystone (12/11), I do not understand how did you find 16 years remaining life, calculating depreciation for leased property?
Thank you in advance!
Hi @Kor,
Leased property (given in SOFP):
Cost = 50,000,000
Accumulated depreciation = 10,000,000 (at 1 October 2010)Leased property is depreciated for 20 years, thus 2,500,000 annually.
Accumulated depreciation of $10,000,000 represents depreciation for 4 years ($10,000,000 / 2,500,000). Thus leased property has remaining useful life of 16 years as of 1 October 2010.
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