Question: A machine acquired for 3 6 0 , 0 0 0 on 1 9 th April 2 0 1 5 and depreciated annually at 1

A machine acquired for

360, 000

19

th April

2015

and depreciated annually at

10 %

of cost is sold for

240, 000

18

th August

2019 .

A full year

s depreciation is charged in the year of acquisition and no depreciation in the year of disposal. What is the gain or loss on disposal in the year ending

31

st December

2019 ?

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