21. A&Co purchased a Packing Plant on 1st April 2020, with price of 1 million and...
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21. A&Co purchased a Packing Plant on 1st April 2020, with price of 1 million and had to spend 400,000 on shipping and calibration, besides that they also had to spend 100,000 on installation. the plant was brought into use on 1st June 2020. It has estimated useful life of 5 years. The year end of the A&Co is 31st December. The plant was sold for 200,000 on 31- December 2023. What should be the net book value of plant as on 31- December 2023. * (3 Points) 450,000 250,000 300,000 Zero None of above 21. A&Co purchased a Packing Plant on 1st April 2020, with price of 1 million and had to spend 400,000 on shipping and calibration, besides that they also had to spend 100,000 on installation. the plant was brought into use on 1st June 2020. It has estimated useful life of 5 years. The year end of the A&Co is 31st December. The plant was sold for 200,000 on 31- December 2023. What should be the net book value of plant as on 31- December 2023. * (3 Points) 450,000 250,000 300,000 Zero None of above
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Related Book For
Canadian Income Taxation planning and decision making
ISBN: 9781259094330
17th edition 2014-2015 version
Authors: Joan Kitunen, William Buckwold
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