Question: Lily Eagle Training Solutions (LETS) is a training company in Pretoria, 3 years ago LETS acquired R10million worth of buildings that qualifies for 10% annual

Lily Eagle Training Solutions (LETS) is a training company in Pretoria, 3 years ago LETS acquired R10million worth of buildings that qualifies for 10% annual depreciation allowance until it is disposed. The buildings were disposed of for R9.5 million. Calculate the surplus on disposal and show how this surplus is made up of.

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The surplus on disposal of the buildings is the difference between the disposal value and the value of the buildings at the time of disposal accumulat... View full answer

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