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John Moffat.
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Ashutosh770
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A business’ non?current assets had a carrying amount of $125,000. An asset which had cost
$12,000 was sold for $9,000, at a profit of $2,000.
What is the revised carrying amount of non?current assets?– i dont know how do i calculate the answer
John Moffat
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If it was sold for 9,000 and that gave a profit of 2,000, then the carrying value of the asset sold must have been 9,000 – 2,000 = 7,000.
Therefore the carrying value of the assets remaining must be 125,000 – 7,000 = 118,000.
Ashutosh770
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