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This question is taken from PART F: preparing basic financial statements, chapter 20 – preparation of financial statements for companies; from interactive text page no: 358; sorry it’s a lengthy question to type, so I’ll give the header of the question.
The accountant of Zabit Co has prepared the following trial balance as at 31 December 20X7.
The doubts in this question’s answer lie in the SPL account of Zabit Co.
I didn’t get how they got $26,000 for profit on disposal of the plant.
Please help me out of this.
I am sorry, but I do not have the interactive text – only the BPP Revision Kit.
(I assume you have watched my free lectures on depreciation?)