A taxpayer disposed a part of asset for 100,000 SR in cash. The taxpayer purchased that...

 

 

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A taxpayer disposed a part of asset for 100,000 SR in cash. The taxpayer purchased that asset for 90,000 SR 5 years ago but the market value of the complete assets was as follows: Part disposed 100,000 Retained part Total 150,000 250,000 Required: Calculate the cost base of the disposed asset and the gain of the disposal. A taxpayer disposed a part of asset for 100,000 SR in cash. The taxpayer purchased that asset for 90,000 SR 5 years ago but the market value of the complete assets was as follows: Part disposed 100,000 Retained part Total 150,000 250,000 Required: Calculate the cost base of the disposed asset and the gain of the disposal.

Answer rating: 100% (QA)

To calculate the cost base of the disposed asset and the gain of the disposal we need to determine t... View the full answer