FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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This question is related with MFRS116.

3. On 1 January x2, Ray acquired a plant costing RM500,000 whose economic life is estimated to be ten years with no scrap value. The plant is depreciated on a straight-line basis. On 1 January x6, Ray incurred the following costs on the plant: RM Repairs and annual overhaul of the plant Purchase of spare parts 100,000 40,000 Replacement of a major part of the plant which reduced the operating costs 200,000 The carrying amount of the part being replaced omsgni 40,000 aib
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Transcribed Image Text:3. On 1 January x2, Ray acquired a plant costing RM500,000 whose economic life is estimated to be ten years with no scrap value. The plant is depreciated on a straight-line basis. On 1 January x6, Ray incurred the following costs on the plant: RM Repairs and annual overhaul of the plant Purchase of spare parts 100,000 40,000 Replacement of a major part of the plant which reduced the operating costs 200,000 The carrying amount of the part being replaced omsgni 40,000 aib
Required: Calculate the carrying amount of the plant on 31 December x6 and the MA plant depreciation charge for x6.
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Transcribed Image Text:Required: Calculate the carrying amount of the plant on 31 December x6 and the MA plant depreciation charge for x6.
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