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Adam and Eve Ltd’s financial year ends on 31 December 2023. On 1 January 2023 th...
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Adam and Eve Ltd’s financial year ends on 31 December 2023. On 1 January 2023 the net book value of machinery was N$20 000. On 30 June 2023 they purchased a new machine for N$6000. Adam and Eve CC paid 50% of the cost in cash and the balance by part exchange of an old machine, which had a net book value of N$2500 on that date. They depreciates their machinery by 20% per annum on the net book value calculated on a time basis. What is the net book value of the machinery shown in the statement of financial position on 31 December 2023?
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