Question: Pronto Pack Ltd sells its old packaging machine for R3000 on 31 December 2019. The machine was bought on 1 January 2016 for R10000. Depreciati

Pronto Pack Ltd sells its old packaging machine for R3000 on 31 December 2019. The machine was bought on 1 January 2016 for R10000. Depreciati on on plant and machinery is calculated at 20% on the atraight-line basis. What is the gain or loss on disposal of the asset? A. Gain of R 10300 B. Gain of R1 1000 C. Gain of 2000 D. Loss of R1000. E. None of the above is correct

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