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BPP revision kit – Mock Exam 1 (Specimen Exam)

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  • This topic has 1 reply, 2 voices, and was last updated 3 years ago by John Moffat.
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  • July 8, 2021 at 9:20 pm #627251
    kavishabrito
    Participant
    • Topics: 17
    • Replies: 15
    • ☆

    Question 23, the answer says to add $180,000 but I don’t understand from where they got that value.

    July 9, 2021 at 8:29 am #627265
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54675
    • ☆☆☆☆☆

    The $180,000 is the cost of $240,000 at the start of the year, less the cost of the asset that was sold on 31 March of $60,000. The leaves the cost of the assets remaining as being $180,000.

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