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Profit or Position? (ACCA FA)

Exercise and reference answers

Questions
  1. A
    Cost £20,000
    B
    Carrying amount £14,000
    Higher value
    Cost £20,000
  2. A
    Annual straight-line charge £2,000
    B
    Reducing-balance Yr2 charge £1,600
    Higher value
    Annual straight-line charge £2,000
  3. A
    Accumulated depreciation £6,000
    B
    Carrying amount £4,000
    Higher value
    Accumulated depreciation £6,000
  4. A
    Residual value £2,000
    B
    Scrap proceeds £900
    Higher value
    Residual value £2,000
  5. A
    Depreciable amount £18,000
    B
    Residual value £2,000
    Higher value
    Depreciable amount £18,000
Instructions
Tap the higher amount.
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