Fixed Assets register (carrying amounts) Please Help!!!!
I have done two mock exams one on the AAT website and one with my training provider. In task 1 it is about the fixed asset register and I am confused by the carrying amount. If depreciation is charged for full months and you sell the asset in the first half of the financial year. So charge 6 months depreciation. Is the carrying amount nil or do you put the carrying amount even if you have put disposal proceeds and date of sale. I have two completely different answers and there is no mention of this in any of my books!!