Volga has Property, Plant & Equipment of $146,000 at the start of the year. PPE with a net book value of $21,000 and accumulated depreciation of $17,000 was disposed of. At the end of the year the closing balance in respect of the cost of PPE was $157,000, an upwards revaluation was made in the year of $7,000. What figure should be shown as additions for the year? (a) 59,000 (b) 84,000 (c) 42,000 (d) 35,000

Volga has Property, Plant & Equipment of $146,000 at the start of the year. PPE with a net book value of $21,000 and accumulated depreciation of $17,000 was disposed of. At the end of the year the closing balance in respect of the cost of PPE was $157,000, an upwards revaluation was made in the year of $7,000. What figure should be shown as additions for the year? (a) 59,000 (b) 84,000 (c) 42,000 (d) 35,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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