Dear John and Team,
I'm in the middle of revision and would really appreciate some help on the following:
Eg 5 P has a year end...On 30 June 2003 the building is revalued at 3072000...
In John's lecture he depreciates the building on the old value of 3.6m for 6 months( Dec 20X2 to June 2003), but I was wondering why you did not depreciate on the new value of 3072000 for the other 6 months, given that the period end is December 20X3?
Thanks in advance for your response.
Sarah
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Revaluation reserve 13e
8y ago#1But I do depreciate for the remaining 6 months on the new value of 3,072,000 over the remaining life of 34.5 years.
Check the answer in the free lecture notes :-)
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