Cabinet Ravenne acquires on 1 March 20X1 a document management software licence for 180,000, amortised on a straight-line basis over 5 years, with no residual value. The software has to be integrated into the firm's information system: the work is completed on 1 September 20X1, the date on which it is available for use. The teams only use it from 1 November 20X1. Calculate the amortisation charge for the year ended 31 December 20X1.
- Cost of the licence
- 180,000
- Useful life
- 5