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Ken Garrett.
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khulan2002
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A non-current asset was disposed of for $3,000 last week. It had been purchased exactly 4 years earlier for $10,000 and had been depreciated using straight line method. The asset had 5 years useful life and no residual value.
What was profit or loss on disposal?
answer:1000?
Ken Garrett
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Yes, 1,000 profit.
khulan2002
Ken GarrettViewing 2 posts - 1 through 2 (of 2 total)
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