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Asset Date of Acquisition Depreciation Rate Current Cost Selling Price 1/1/15 31/12/15 1/1/15 31/12/15 Equipment 1/1/12 10% 300,000 330,000 250,000 275,000 Land 1/1/11 NA 200,000
Asset Date of Acquisition Depreciation Rate Current Cost Selling Price
1/1/15 31/12/15 1/1/15 31/12/15
Equipment 1/1/12 10% 300,000 330,000 250,000 275,000
Land 1/1/11 NA 200,000 250,000 220,000 260,000
Vehicle 1/1/15 20% 100,000 80.000 90.000 70,000
A) CALCULATE DEPRECIATION ON THE VEHICLE FOR 2015, USING
i) CURRENT COST ACCOUNTING
ii) EXIT PRICING
B) CALCULATE TOTAL NON CURRENT ASSETS (AFTER DEDUCTING ACCUMULATED DEPRECIATION) USING:
i) CURRENT COST ACCOUNTING
ii) EXIT PRICING
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