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At 30th September 2019, the following balances existed in the records of Mr. Imran: ACCOUNT DEBIT ($) CREDIT($) Buildings at cost 94,000 Plant and Equipment
At 30th September 2019, the following balances existed in the records of Mr. Imran: ACCOUNT DEBIT ($) CREDIT($) Buildings at cost 94,000 Plant and Equipment 34,000 lat cost Provision for depreciation: Plant and Equipment 6,000 Buildings at cost 1,000 You are given the following additional information: (i) Buildings is depreciated at 8% per annum using straight line method (ii) Plant and Equipment is to be depreciated at 10% per annum using written down value method. (i) Buildings is depreciated at 8% per annum using straight line method (ii) Plant and Equipment is to be depreciated at 10% per annum using written down value method. The amount of depreciation expense on Plant and Equipment in the Income Statement for the year ended 30th September, 2019 is: The Net Book Value of the plant and Equipment appearing in the Statement of Financial Position as at 30 September, 2019 will be: =
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