A machine costing 300,000, brought into use on 1 January 2023 and depreciable on a straight-line basis over 10 years with no residual value, was never depreciated by Quarvane, which presents 2025 and 2024 (tax effect ignored). Compute the correction to equity at 1 January 2024 and restated accumulated depreciation at 31 December 2024.
- Cost of the machine
- 300,000
- Useful life
- 10