A business had non-current assets with a carrying amount of $50,000 at the start of the financial year. During the year the business sold assets that had cost $4,000 and had been depreciated by $1,500. Depreciation for the year was $9,000. The carrying amount of assets at the end of the financial year was $46,000. How much cash has been invested in non-current assets during the year?
A business had non-current assets with a carrying amount of $50,000 at the start of the financial year. During the year the business sold assets that had cost $4,000 and had been depreciated by $1,500. Depreciation for the year was $9,000. The carrying amount of assets at the end of the financial year was $46,000. How much cash has been invested in non-current assets during the year?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A business had non-current assets with a carrying amount of $50,000 at the start of the
financial year. During the year the business sold assets that had cost $4,000 and had been
at the end of the financial year was $46,000.
How much cash has been invested in non-current assets during the year?
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