The following information was disclosed in the financial statements of a company for the year ended 31 December 2004.
Plant and equipment, cost. 735 000 (year 2004) 576 000 (year 2003)
accumulated depreciation 265 000 (2004) 315 000 (2003)
NBV 470 000 (2004) 261 000 (2003)
During 2004 :
expenditure on plant and equipment was : 512 000
loss on the disposal of old plant was : 107 000
depreciation charge : 143 000.
what where the sales proceeds received on the disposal of the old plant.
A: 53 000
B 153 000
C 246 000
D 267 000
Plant and equipment, cost. 735 000 (year 2004) 576 000 (year 2003)
accumulated depreciation 265 000 (2004) 315 000 (2003)
NBV 470 000 (2004) 261 000 (2003)
During 2004 :
expenditure on plant and equipment was : 512 000
loss on the disposal of old plant was : 107 000
depreciation charge : 143 000.
what where the sales proceeds received on the disposal of the old plant.
A: 53 000
B 153 000
C 246 000
D 267 000