Calculate the Depreciation - Equipment expense

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Question - Big Aussie Ltd acquired all of the shares of Utah Limited on 1 July 2035. Utah Ltd provides the following information (items in US$) for the year:

-Equipment 285,000

-No equipment was acquired during the year

-Straight-line method is used, with no residual value

-Useful life of ten years

The following exchange rates applied:

Start of the reporting period US$ 1.00 = AUD $1.72

End of reporting period US$ 1.00 = AUD $1.47

Average rate for year US$ 1.00 = AUD $1.63

Calculate the Depreciation - Equipment expense translated into the functional currency of AUD?

Reference no: EM133106877

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