Taryn would like to open a new business as an interior designer, to funds her ambition she sold some of the following assets: 1. AntiquePaintingthatwasgiventoTarynbyherfather5yearsago.Taryn’sfatherboughtiton20August 1984 for $2,500. Taryn sold it on 1’st June 2020 for $25,000 2. Taryn sold her car (Toyota Corolla) for the amount of $12,000 on 20’th May 2020, she bought on 1’st January 2015 for the amount of $20,000 3. Taryn sold her Harry Potter’s collection for the amount of $1,500 on 4’th January 2020, she bought it second hand on 10’th October 2018 for $350. 4. Taryn sold her gold necklace for $2,000 on 20’th March 2020, she bought it for $1,200 on 8’th August 2018 5. Tarynsoldasculpturefor$6,000on1January2020,sheboughtitonDecember1994for$1,500

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Taryn would like to open a new business as an interior designer, to funds her ambition she sold some of the following assets:

1. AntiquePaintingthatwasgiventoTarynbyherfather5yearsago.Taryn’sfatherboughtiton20August 1984 for $2,500. Taryn sold it on 1’st June 2020 for $25,000

2. Taryn sold her car (Toyota Corolla) for the amount of $12,000 on 20’th May 2020, she bought on 1’st January 2015 for the amount of $20,000

3. Taryn sold her Harry Potter’s collection for the amount of $1,500 on 4’th January 2020, she bought it second hand on 10’th October 2018 for $350.

4. Taryn sold her gold necklace for $2,000 on 20’th March 2020, she bought it for $1,200 on 8’th August 2018

5. Tarynsoldasculpturefor$6,000on1January2020,sheboughtitonDecember1994for$1,500

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