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Hello mike,
1. Co A acquired additional plant under new lease.
2. depreciation for PPE was 900kBased on the abovementioned notes in a question, how de we know whether depreciation for the new acquired plant has been included in the depreciation of PPE ? Do we assume it has been included bcos it was not mentioned anywhere that it has not?
Thanks
If it doesn’t say otherwise anywhere in the question, but it does say that depreciation for PPE for the year is 900k, then you must assume that the finance leased asset has been depreciated (unless it has been wrongly shown as an operating lease – in that case it hasn’t been included in PPE so will not have been depreciated)
OK?
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