A non-current Property,plant and equipment asset is depreciated using the straight-line method.The asset was revalued upwards after four years of use.There is no change in the remaining useful life of six years or to the residual value.Which of the following relationships reflects the effect of the revaluation on the prospective depreciation of the asset?
Depreciation Annual depreciation
Rate Expense
A) Same Higher
B) Same Same
C) Higher Higher
D) Higher Same
Correct Answer:
Verified
Q14: Replicator Limited acquired an item of Plant
Q15: The net effect of the journal entries
Q16: When a company recognises a depreciation credit
Q17: When using the revaluation model:
A)ongoing record keeping
Q18: Property,plant and equipment includes items that are:
A)intangible
B)held
Q19: The cost of property,plant and equipment is
Q21: Explain how an entity determines the useful
Q22: Provide a definition of 'residual value' of
Q23: Discuss the notion that depreciation is a
Q24: Distinguish between the accounting treatment for a
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents