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Non Current Asset

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Non Current Asset

  • This topic has 1 reply, 2 voices, and was last updated 9 years ago by John Moffat.
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  • May 1, 2016 at 2:35 am #313218
    abrizni10
    Member
    • Topics: 55
    • Replies: 49
    • ☆☆

    Dear sir, I’m finding it hard to understand this question

    The asset register shows a carrying value for NCA of $ 85600; the ledger accounts include a cost balance of $185000 and an accumulated depreciation balance of $55000. What explains the discrepancy?

    May 1, 2016 at 8:40 am #313237
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54700
    • ☆☆☆☆☆

    The carrying value in the asset register (of 85,600) should be the same as the carrying value in the accounts (185,000 – 55,000 = 130,000). Since they are different, it means that either something is wrong in the asset register or something is wrong in the accounts.

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