Lemaire acquired an asset costing 600,000 and deducted a grant of 150,000 from its carrying amount. The asset has a useful life of 5 years, depreciated on a straight-line basis with no residual value (case conventions), and 3 years have elapsed when the grant becomes repayable in full. Calculate the cumulative additional depreciation to recognise immediately and the carrying amount after the catch-up.
- Cost of the asset
- 600,000
- Grant deducted, now repayable
- 150,000
- Useful life
- 5
- Years elapsed before repayment
- 3