A machine acquired for 360,000 on 1 April 2006 and depreciated at 10% of cost per annum
Question:
A machine acquired for £360,000 on 1 April 2006 and depreciated at 10% of cost per annum was sold for £112,000 on 30 September 2011. Depreciation is time apportioned. Expenses of disposal amounted to £3,000. Identify the gain or loss on disposal of the machine.
Transcribed Image Text:
a £161,000 loss b £53,000 loss c £161,000 gain d £53,000 gain
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Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
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