Ltd bought a laptop computer for its business that cost £2,000 and it has a net book value of £1,200 after one year. If Trent sells the laptop for £700 at that time, the profit / (loss) on disposal would be: Select one: O a. The profit on disposal would be £1,300 o b. The profit on disposal would be £50 O c. The loss on disposal would be £1,300 o d. The loss on disposal would be £500
Ltd bought a laptop computer for its business that cost £2,000 and it has a net book value of £1,200 after one year. If Trent sells the laptop for £700 at that time, the profit / (loss) on disposal would be: Select one: O a. The profit on disposal would be £1,300 o b. The profit on disposal would be £50 O c. The loss on disposal would be £1,300 o d. The loss on disposal would be £500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Trent Ltd bought a laptop computer for its business that cost £2,000 and it has a net book
value of £1,200 after one year. If Trent sells the laptop for £700 at that time, the profit /
(loss) on disposal would be:
Select one:
O a. The profit on disposal would be £1,300
O b. The profit on disposal would be £50
O c. The loss on disposal would be £1,300
o d. The loss on disposal would be £500
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