Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700. The profit/loss for the disposed equipment is _________. A. Profit/loss R300 B. Profit/loss R92 C. Profit/loss R455 D. Profit/loss R460
Equipment R20 000, Accumulated Depreciation R16 000. Depreciation is calculated at 20% p. a. on a diminishing method. An old equipment was disposed for R1 500 cash on 1 December 2020. The equipment originally costed R3 000. The Accumulated depreciation is R 700. The profit/loss for the disposed equipment is _________. A. Profit/loss R300 B. Profit/loss R92 C. Profit/loss R455 D. Profit/loss R460
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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100%
Equipment R20 000,
The
A. Profit/loss R300
B. Profit/loss R92
C. Profit/loss R455
D. Profit/loss R460
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