Question: based on the below how will you work out the profit/ loss on the sale of machine. taking into account purchase price. Extract from: Statement

based on the below how will you work out the profit/ loss on the sale of machine. taking into account purchase price.
based on the below how will you work out the profit/ loss
on the sale of machine. taking into account purchase price. Extract from:

Extract from: Statement of Profit or loss and other comprehensive income of Mode Lia for the vear ended 30 June 2022 Additional information: 1. Shares were issued for cash during the year. 2. Dividends of R180 000 were declared during the current financial year. 3. On 31 October, machinery with a carrying amount of R1 10000 was sold for replacement machine as well as additional machinery was purchased for cas 4. No long term borrowings were made during the year. 5. Investments were sold duning the year. Np new investments were purchased

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!