A non-current asset was purchased at the beginning of Year 1 for $2,400 and depreciated by...

 

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A non-current asset was purchased at the beginning of Year 1 for $2,400 and depreciated by 20% per year by the reducing-balance method. At the beginning of Year 4 it was sold for $1,200 The result of this was: Select one: O a. a profit on disposal of $240.00 b. a loss on disposal of $28.80 O`c. a profit on disposal of $28.80 O d. a loss on disposal of $240.00 Clear my choice A non-current asset was purchased at the beginning of Year 1 for $2,400 and depreciated by 20% per year by the reducing-balance method. At the beginning of Year 4 it was sold for $1,200 The result of this was: Select one: O a. a profit on disposal of $240.00 b. a loss on disposal of $28.80 O`c. a profit on disposal of $28.80 O d. a loss on disposal of $240.00 Clear my choice

Answer rating: 100% (QA)

1 The Correct Answer is Optionb A Loss on Disposal 2880 Explanation Carrying ... View the full answer