Question

hello

how they found accumulated depreciation here?
dont know how to solve it

Not answered Marked out of 1.00 P Flag question Company T acquired a property on 1.4.X2 for £800,000 of which £550,000 related to the land. The company's policy is to depreciate its buildings over 50 years with time apportionment in the year of acquisition. The company acquired an external valuation of the property at 31.12.X8 of £1.2m including £950,000 relating to the land. What will the revaluation reserve be at that date? Colent one

Answer 1

total cost of property 8,00,000 cost related to land 5,50,000 cost of building 2,50,000 %3D total expected life 50 annual depreciation 5,000 %3D period expired till 31.12.X8 6.75 years £33,750 accumulated depreciation on 31.12.X8 %3D II

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