Baxter Co purchased an asset for $100,000 on 1.1.X1. It had an estimated useful life of 5 years and it was depreciated using
he straight line method. On 1.1.X3 Baxter Co revised the remaining estimated useful life to 8 years.
What is the carrying amount of the asset at 31.12.X3?
$52,500
Carrying amount at 1.1.X3 = 100,000 - (100,000 x 2/5) = $60,000
New depreciation charge = Carrying amoun^Revised useful life = $60,000/8 years = $7,500
Carrying amount at 31.12.X3 = $60,000 - $7,500 = $52,500
多做几道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
最新试题
该科目易错题
该题目相似题
