Provide depreciation in full in the year of purchase

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Reference no: EM131385831

On 10 August 2013 Joblot, a computer software retailer, bought a non-current asset which cost £100,000. It had an anticipated life of four years and an estimated residual value of £20,000.

Due to unforeseen events in the computer industry, the asset was suddenly sold on 10 March 2016 for £45,000. The policy of the company is to provide depreciation in full in the year of purchase and none in the year of sale.

Reference no: EM131385831

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