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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

FINANCIAL ACCOUNTING
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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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
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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