Question: Q1.15 2.5 Points On 1 April 20x5 Herepath plc bought a Foxy car for 23,500. The company's depreciation policy for cars is 30% per annum

Q1.15 2.5 Points On 1 April 20x5 Herepath plc bought a Foxy car for 23,500. The company's depreciation policy for cars is 30% per annum using the reducing balance method. On 1 April 20x7 the Foxy was part exchanged for a Vizgo car, which had a purchase price of 28,200. Herepath plc gave a cheque to the seller for 19,350, in final settlement. What was Herepath plc's profit or loss on the disposal of the Foxy? O 5,150 loss O 7,835 profit 2,665 loss 6,250 loss

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