Motor Vehicles account has a balance of $80,000 and provision for depreciation. account has a balance...

 

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Motor Vehicles account has a balance of $80,000 and provision for depreciation. account has a balance of $20,000. One motor vehicle which was bought two years ago for $10,000 for $20,000. The motor vehicle has been depreciated at 20% per annum on cost. What was the balance on the provision of depreciation after this disposal? a $12,000 b $15,600 c $16,000 d $10,400 A fixed asset cost $12,000 and sold for $5,000. At the date of disposal, its net book value is $2,000. So what is the profit or loss on disposal of this fixed asset? a $2,000(loss) b $3,000(loss) c $2,000 (profit) d $3,000(profit) Motor Vehicles account has a balance of $80,000 and provision for depreciation. account has a balance of $20,000. One motor vehicle which was bought two years ago for $10,000 for $20,000. The motor vehicle has been depreciated at 20% per annum on cost. What was the balance on the provision of depreciation after this disposal? a $12,000 b $15,600 c $16,000 d $10,400 A fixed asset cost $12,000 and sold for $5,000. At the date of disposal, its net book value is $2,000. So what is the profit or loss on disposal of this fixed asset? a $2,000(loss) b $3,000(loss) c $2,000 (profit) d $3,000(profit)

Answer rating: 100% (QA)

1 Cost Provision for dep Balance 8000... View the full answer