Problem on straight line method of depreciation

Reference no: EM13142163

Abbey Ltd purchased machinery on 1 October 2010 for $80 000. The estimated useful life of the machinery is 5 years, with an estimated residual of $5000. The entity's balance date is 30 June, and it uses the straight line method of depreciation. On July 2011, the value in use was estimated to be $45000 and the net selling price was $48 750.

Reference no: EM13142163

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