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A company has a year end of 31 january each year.Thet purchased a car $12000 1january 2008 and sold it for $5000 on 31 march 2012.There dep’ policy is to charge in the year of pucharse and non in the year of sale.
What was the profit or loss on the sale of the car?
How do you calculate this one? am getting $1144 profit but the correct given ans is $1067.84 profit.
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