Hamigo Berhad purchased a plant for RM8 million on 1 May 2018. The asset is depreciated...
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Hamigo Berhad purchased a plant for RM8 million on 1 May 2018. The asset is depreciated over eight (8) years on the straight line basis with no residual value. At 30 April 2019, the asset was revalued to RM10.5 million with no changes to useful life. At 30 April 2020, the asset's value has fallen to RM6 million. Required: Discuss the appropriate accounting treatment to be taken by the entity. Hamigo Berhad purchased a plant for RM8 million on 1 May 2018. The asset is depreciated over eight (8) years on the straight line basis with no residual value. At 30 April 2019, the asset was revalued to RM10.5 million with no changes to useful life. At 30 April 2020, the asset's value has fallen to RM6 million. Required: Discuss the appropriate accounting treatment to be taken by the entity.
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ANSWER Straightht line basis is a method of calculating depreciation and amo... View the full answer
Related Book For
Personal Finance An Integrated Planning Approach
ISBN: 978-0136063032
8th edition
Authors: Ralph R Frasca
Posted Date:
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