At 31 July 20X6, Helios International had non-current assets which had cost $310,000. At the same date, the accumulated depreciation on the assets was $120,000. The company had not disposed of any non-current assets during the year to 31 July 20X7, but acquired an asset at a cost of $79,200 on 1 January 20X7. Helios International depreciates non-current assets at a rate of 25% per annum. What is the company’s depreciation charge for the year to 31 July 20X7 using: a. The straight-line method b. The reducing balance method Assume that depreciation is charged from the first year of acquisitio
At 31 July 20X6, Helios International had non-current assets which had cost $310,000. At the same date, the accumulated depreciation on the assets was $120,000. The company had not disposed of any non-current assets during the year to 31 July 20X7, but acquired an asset at a cost of $79,200 on 1 January 20X7. Helios International depreciates non-current assets at a rate of 25% per annum. What is the company’s depreciation charge for the year to 31 July 20X7 using: a. The straight-line method b. The reducing balance method Assume that depreciation is charged from the first year of acquisitio
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter11: Depreciation, Depletion, Impairment, And Disposal
Section: Chapter Questions
Problem 10RE: Assume the same information as in RE11-3, except that Albany Corporation purchased the asset on...
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Fixed Assets &
At 31 July 20X6, Helios International had non-current assets which had cost $310,000. At the same date, the
Helios International depreciates non-current assets at a rate of 25% per annum.
What is the company’s depreciation charge for the year to 31 July 20X7 using:
a. The straight-line method
b. The
Assume that depreciation is charged from the first year of acquisition.
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