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Dwell Co Pty Ltds low-value pool closing balance for the year ended 30 June 2020 was $2,500. During the 2020/2021 income year, Dwell Co Pty
Dwell Co Pty Ltds low-value pool closing balance for the year ended 30 June 2020 was $2,500.
- During the 2020/2021 income year, Dwell Co Pty Ltd acquired a depreciating asset for $800 (excluding GST). Its taxable use percentage is 80%.
- Also, in the 2020/2021 income year, Dwell Co Pty Ltd chose to allocate to the low-value pool, a low-value asset with an opening adjustable value on 1 July 2020 of $990.
What is the DECLINE IN VALUE of the depreciating assets in the low-value pool for the 2020/2021 income year?
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Auditing Philosophy And Technique
Authors: John William Cook
1st Edition
039520660X, 978-0395206607
