On 1 June 2 0 2 3 a machine was sold which cost 2 0 ,

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Question:

1

June

2023

a machine was sold which cost

€ 20, 000

31

July

2019 .

The sale proceeds were

£ 5, 500 .

The depreciation policy for machinery is

20 %

pa straight line, with a full year being charged in the year of acquisition and non in the year of disposal. The year

-

end is

31

December. What is the profit or loss on disposal? Calculate.

Related Book For answer-question

International Financial Reporting a practical guide

ISBN: 9781292439426

8th Edition

Authors: Alan Melville

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Posted Date: Jan 22, 2024 08:12 AM

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On 1 June 2 0 2 3 a machine was sold which cost 2 0 ,

Question:

Expert Answer:

To calculate the profit or loss on disposal we can follow these steps 1 Determine the accumulated de... View the full answer

International Financial Reporting a practical guide

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