Closing inventory information for Priory Gallery is displayed below. Complete the table by calculating the NRV of each item and comparing this with the cost in order to calculate the total value of each product line F B Cos 44 88 Selling price 82 123 Sales commission 7 Number of units in stock 320 220 NRV Total value of product line Later the the commo or decimal places) 140 277 72 120 The Property Co Ltd have recently purchased a building at a cost of 3,600.000. They have estimated that this will have a useful life of 25 years and a residual value of 950,000. They have not yet decided whether to depreciate this using the straight line method or the reducing balance method at 6% per annum The Property Co Ltd have a policy of charging a full year's depreciation in the year of purchase and none in the year of What would be the value of the depreciation for the first TWO years under the straight line method? What would be the value of the depreciation for the first two years under the reducing balance method? the values with no sin como decimal places) Business Services Ltd's year end is 31 December. On 1 June 20x1, they purchased a machine at a cost of E66.006. At the time, they estimated that the machine had a useful life of 9 years and no residual value. On 1 January 20X5 Business Services Ltd sold the machine for 46,400. Business Services Ltd have a policy of charging depreciation based upon the number of months an asset has been owned Did Business Services Co make a profit or a loss on the sale of the machine? Choose your own the dropdown mendi What was the value of the profit or loss? ter the value with no com or decimal places) Calendar Plc have a year end of 30/09/X2. They have prepared the following information about their non Current assets Land was revalued to 4.2 million on 28/09/X2 . All buildings are depreciated using the straight line method over 25 years All plant and equipment is depreciated using the reducing balance method at 18% Requirement: Complete the non-current asset working below for Calendar Plc (Round to the nearest 1,000) Land Buildings Plant & equip E000 E000 '000 Cost 2700 2400 1500 Accumulated depreciation 0 -535 -550 Net book value at 01/10/X1 2700 1865 950 Revaluation during 20X2 Depreciation for year ended 20X2 Net book value at 30/09/X2 ter the value with no one comme decimal places Use a minus sign where applicable)