A company acquired a chargeable asset for 5,000 in February 2004 (RPI 183.8). The asset (not a
Question:
A company acquired a chargeable asset for £5,000 in February 2004 (RPI 183.8). The asset (not a chattel) was sold in January 2021. The RPI for December 2017 was 278.1. Compute the chargeable gain or allowable loss if sale proceeds were:
(a) £9,000
(b) £5,500
(c) £4,800
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
For all parts Sale proceeds Less Acquisition cost Unind...View the full answer
Answered By
Shristi Singh
A freshman year metallurgy and material science student in India.
4.80+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
PCC Ltd is a manufacturing company which prepares accounts to 31 December each year. The company made the following disposals of chargeable assets in the year to 31 December 2021: (i) On 12 September...
-
PCC Ltd is a manufacturing company which prepares accounts to 31 December each year. The company made the following disposals of chargeable assets in the year to 31 December 2017: (i) On 12 September...
-
PCC Ltd is a manufacturing company which prepares accounts to 31 December each year. The company made the following disposals of chargeable assets in the year to 31 December 2020: (i) On 12 September...
-
Design an application that declares two CheckingAccount objects and sets and displays their values. Write the pseudocode that defines the class from the class diagram & previous information...
-
Select any case study that has not already been assigned and address the following in a paper: 1.Thoroughly analyze the situation and the needed areas of improvement. 2. Determine the needed...
-
The momentum ratio of a cannon grapeshot and rifle bullet is 3:100. If the mass of the grapeshot is \(5 \mathrm{~kg}\) and the mass of the bullet is \(0.05 \mathrm{~kg}\), find the relation between...
-
Match the following concepts to their descriptions: 1. Document specifying when jobs will be manufactured. 2. Product costing system used by mass manufacturers. 3. Bill from supplier. 4. Document...
-
You are the manager of a monopoly that sells a product to two groups of consumers in different parts of the country. Group 1s elasticity of demand is 2, while group 2s is 6. Your marginal cost of...
-
12.Indicate, by clicking on the relevant boxes, whether the following statements are true or false?
-
A company acquired a chargeable asset for 2,000 in April 1980 and sold the asset for 22,500 in September 2020. Compute the unindexed gain arising on this disposal if the market value of the asset at...
-
A company bought a chargeable asset in November 2000 for 15,000. Enhancement expenditure was 2,000 in January 2002, 3,000 in June 2006 and 4,500 in September 2018. The asset was sold in February 2021...
-
a. If R is a ring with unity and a, b are units of R, prove that ab is a unit of R and that (ab)-l = b-la-l. b. For the ring M2(Z), find A-1 B-1 (AB)-1 (BA)-1 and B-1A-1 if 2 2 1
-
Consider the following causal model containing random variables (L, R, B, T}, with dom(T) = {high, low}, dom(B) = {many, few), and all other variables having domain {true, false}. The variable L...
-
The reaction A(aq) + B(aq) Products(aq) was studied, and the following data were obtained: [A]o (mol/L) 0.24 0.12 0.060 0.48 0.36 Submit 0.24 0.18 0.18 [B], (mol/L) The rate constant for the reaction...
-
Dillion Danis Corporation reported net income of $261,360 in 2025 and had 49,000 shares of common stock outstanding throughout the year. Also outstanding all year were 5,200 shares of cumulative...
-
Q1b. Find the sources of the numbers entered in B15, B16, and B17 and list them. 1234 7 600 3 Answers to the questions below will be found by closely examining the case. Detective work is required. 4...
-
Pendant Publishing is considering investing in a new printing press. The initial costs will be $250,000. After-tax cash flows next year will increase by $18,000 and will grow at an annual rate of 4%...
-
1. Two out of six classes of creditors opposed Midlands plan yet the court imposed a cramdown. Is this fair? 2. What was Uniteds conflict of interest? 3. Under what circumstances will a court accept...
-
The cost curve for the city water supply is C(Q) = 16 + 1/4 Q2, where Q is the amount of water supplied and C(Q) is the cost of providing Q acre-feet of water. (An acre-foot is the amount of water...
-
Calculate the married couple's allowance available to the following couples in 2017-18, assuming that they were married before 5 December 2005 and that they have not elected for MCA to be claimed by...
-
Pamela's salary in 2017-18 is 105,000. She has no other income for the year and she is not a Scottish taxpayer. (a) Calculate her income tax liability for 2017-18. (b) Re-calculate her income tax...
-
Calculate the basic personal allowance available in 2017-18 to a taxpayer with adjusted net income of: (a) 90,000 (b) 108,000 (c) 130,000.
-
Accounting (with/without) reversing entries for accrued salaries will require a debit to salaries expense, a debit to a salaries payable and a credit to cash for the first payment of salaries in the...
-
Problem 3: Find the equations of motion for the forced elastic pendulum shown below (force f(t) is perpendicular to gravitational field as in the figure; assume small angles and vibrations): K C f(t)...
-
w(xit) b) (x7) EI L Consider a beam as shown with a fixed left end and a free right end. The product El = 1 GPa- mm4 and the density of the beam per unit length is 100 kg/m. The beam's length is 10...
Study smarter with the SolutionInn App