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Super Difficult Company’ has provided you with the following information:
NBV of NCA at start and end of the year: $462 & $633
Accumulated Depreciation at start & end of the year: $117 & $155
Increase in Revaluation Reserve (equity) during the year: $50
Accumulated Depreciation of the NCA that was revalued: $10
Accumulated Depreciation of the NCA that was sold: $15
Assets Purchased during the year: $204
Loss on the Disposal of NCA: $7Based on this information, what amount will be included for Cash received from Sale of NCA under Investing Activities in the Statement of Cash Flows?
A. $13
B. $20
C. $76
D. $83
Why are you attempting a question for which you do not have an answer? You should be using a Revision Kit from one of the ACCA Approved Publishers – it has answers and explanations.
The best way is to prepare quick t-accounts for cost and accumulated depreciation.
Have you watched my free lectures on this?
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