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Tangible non-current asset

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Tangible non-current asset

  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by mrjonbain.
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  • September 27, 2021 at 10:01 am #636576
    advus
    Participant
    • Topics: 20
    • Replies: 19
    • ☆

    Dear sir,I want to know how to calculate this question?What is the “plant held all year?Why it is (200000-40000)*20%?
    Right Co’s policy is to charge depreciation on plant and machinery at 20% per year on cost, with proportional depreciation for items purchased or sold during a year.
    Right Co’s plant and machinery at cost account for the year ended 30 September 20X3 is shown below.
    Dr:1.10.20×2 balance is 200000
    1.4.20×3 Cash-purchase of plant is 50000
    Cr:30.6.20×3 Transfer disposal account is 40000
    30 Sep.Balance is 210000
    What should be the depreciation charge for plant and machinery (excluding any profit or loss on the disposal) for the year ended 30 September 20X3?
    Thank you very much!

    September 27, 2021 at 11:55 am #636590
    mrjonbain
    Moderator
    • Topics: 6
    • Replies: 2487
    • ☆☆☆☆☆

    If you want to ask the tutor something directly please use the ask the tutor forum. This forum is primarily designed for students to help one another. The ask the tutor forum is here-

    https://opentuition.com/forum/ask-acca-tutor-forums/ask-the-tutor-acca-fa/

    Hope this helps.

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