IFRS 38- Property tax

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August 10, 2015 at 2:52 pm #266563
a151ya
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A firm purchased a non current asset on 1.1.2001 for 25,000. Estimated life is 6 years. Estimated scrap value is 7,000. Asset was eventually sold after 3 years for 17500. Calculate profit or loss using straight line method.
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