Paul Thuse sold his old car for R60 000. He bought the 3 years back for R120 000. During the 3years he had replaced all 4 tires for R600 each. Thecapital gain/loss on the disposal of the car is: Select one: a. None of theabove as there is no capital gain or loss on the disposal of the vehicle b. R60 000 gain c. R57 600 loss d. R60 000 loss

The capital gain or loss on a car's disposal is the difference between its selling price and its…

Answered: capital gain/loss on the disposal of…

capital gain/loss on the disposal of the car is: Select one: a. None of the above as there is no capital gain or loss on the disposal of the vehicle b. R 60 000 gain c. R57 600 loss d. R60 000 loss

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Paul Thuse sold his old car for R60 000. He bought the 3 years back for R
120 000. During the 3years he had replaced all 4 tires for R600 each. The
capital gain/loss on the disposal of the car is: Select one: a. None of the
above as there is no capital gain or loss on the disposal of the vehicle b. R
60 000 gain c. R57 600 loss d. R60 000 loss

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