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CIMAPRA17-BA3-1 Exam - Topic 1 Question 1 Discussion

MHJ purchased an asset for 53,500, which incurred a delivery charge of 20,000. MHJ decided to set a depreciation rate of 15% per annum for the asset.In its second year, the asset is re-valued at 180% of the net carrying value of the previous year.What will be the asset's net carrying amount by the end of its second year?
B) 95,586.75
A) 7 72,455.00
C) 53,101.20
D) 81,248.74

CIMAPRA17-BA3-1 Exam - Topic 1 Question 1 Discussion

Actual exam question for CIMA's CIMAPRA17-BA3-1 exam
Question #: 1
Topic #: 1
[All CIMAPRA17-BA3-1 Questions]

MHJ purchased an asset for 53,500, which incurred a delivery charge of 20,000. MHJ decided to set a depreciation rate of 15% per annum for the asset.

In its second year, the asset is re-valued at 180% of the net carrying value of the previous year.

What will be the asset's net carrying amount by the end of its second year?

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Suggested Answer: B

by Freeman at May 05, 2022, 12:22 PM

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Dominga
10 months ago
Totally agree, the re-valuation really changes things!
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Shelia
10 months ago
Wait, how does it get re-valued at 180%? That seems off.
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Jackie
11 months ago
I think the net carrying value will be higher than that!
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Nadine
11 months ago
Depreciation is 15% per year, right?
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Micah
11 months ago
The initial cost is 53,500 plus 20,000 delivery.
upvoted 0 times
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King
11 months ago
Hmm, I'm not too familiar with the specifics of cloud-based SD-WAN. I'll need to think through the differences between on-premises and cloud-based deployments to identify the main advantages.
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Avery
11 months ago
I think the deduction is based on doubtful debts, but I'm not completely sure if it only allows for 75% of the statutory amount.
upvoted 0 times
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