A company purchased equipment on 1 January 2004 for 40,000, at which date the relevant price index

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A company purchased equipment on 1 January 2004 for £40,000, at which date the relevant price index for equipment was 100. Depreciation is charged on a straight line basis at 25%

per annum. The index at 31 December 2004 had moved to 150, and at 31 December 2005 it was 200. Show the current cost balance sheet entries for equipment at 31 December 2004 and 31 December 2005. Calculate the adjustments to the current cost reserve in respect of equipment.

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