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On 1 January 20X8, Capital Heights Real Estate Ventures has a building in its books at cost $380,000, net book value $260,000. On 1
On 1 January 20X8, Capital Heights Real Estate Ventures has a building in its books at cost $380,000, net book value $260,000. On 1 June 20X8, the asset is revalued at $450,000 and Capital Heights Real Estate Ventures wishes to include that valuation in its books. Capital Heights Real Estate Ventures's accounting policy is to depreciate buildings at 3% straight line. The depreciation charge to the income statement for the year ended 31 Dec is:
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Intermediate Accounting Volume 2
Authors: Thomas H. Beechy, Joan E. Conrod, Elizabeth Farrell, Ingrid McLeod-Dick, Kayla Tomulka, Romi-Lee Sevel
8th Edition
1260881245, 9781260881240
