The business has just purchased a specialised piece of computerised manufacturing machinery for 240,000. It will be
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The business has just purchased a specialised piece of computerised manufacturing machinery for £240,000. It will be used for three years. It would certainly have no resale value because of its specialised nature. How should the machinery be valued? Name the accounting concept that will apply.
■ Cost: £240,000
■ Resale value: £0
■ Average value: £80,000.
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The machinery should be valued using the concept of Depreciation Depreciation is an accounting metho...View the full answer
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