A machine which cost 45,000 on 1 January 20*7 had an expected life of 10 years. It
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A machine which cost £45,000 on 1 January 20*7 had an expected life of 10 years. It has been depreciated using the straight line method. It was sold for £31,000 on 31 December 20*8.
Required
Calculate the profit or loss on disposal of the machine.
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To calculate the profit or loss on disposal of the machine we need to determine the carrying amount ...View the full answer
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