CIMA BA3 Question Answer
MHJ purchased an asset for £53,500, which incurred a delivery charge of £20,000. MHJ decided to set a depreciation rate of 15% per annum for the asset.
In its second year, the asset is re-valued at 180% of the net carrying value of the previous year.
What will be the asset's net carrying amount by the end of its second year?
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