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Phy154-Happy Mobile (Hm) Is A Publicly Listed Company.

Submitted by • December 10, 2018

Question 1 (20 marks)Happy Mobile (HM) is a publicly listed company. Details of HM’s non-current assets at 1 October 20 x8 were: Land and building$m Plant$m Telecommunications licence$m Total$m Cost/valuation 280150300730 Accumulated depreciation/amortization-40___-105___-30___-175___Net book value (NBV)24045270555 The following information is relevant: The land and building were revalued on 1 October 20 x 3 with $80 million attributable to the land and $200 million to the building. At that date the estimated remaining life of the building was 25 years. A further revaluation was not needed until 1 October 20 x 8 when the land and building were valued at $85 million and $180 million respectively. The remaining estimated life of the building at this date was 20 years. Plant is depreciated at 20% per annum on cost with time apportionment where appropriate. On 1 April 20 x9 new plant costing $45 million was acquired. In addition, this plant cost $5 million to install and commission. No pla

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Voted by Simon Brooke

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