Accounting 9706 · AS & A Level · Accounting for non-current assets

Accounting for non-current assets — practice question

X Limited bought a property for $100000 on 1 January 2010. The property had an estimated useful life of 50 years. On 1 January 2024, the property was revalued to $119000. The total estimated useful life still remained 50 years from 1 January 2010. What is the depreciation charge for the year ended 31 December 2024?

  • A$2000
  • B$2380
  • C$2778
  • D$3306

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