Mats has sold a motor vehicle for $8500. She purchased the motor vehicle three years ago for
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Mats has sold a motor vehicle for $8500. She purchased the motor vehicle three years ago for $18 000 and estimated that it would have a useful economic life of four years. She estimated that the residual value at the end of four years would be $4000. Anais depreciates her motor vehicles using the straight-line method of depreciation. Calculate the profit or loss on the sale of the motor vehicle.
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Related Book For
Accounting For Cambridge International AS And A Level
ISBN: 9780198399711
1st Edition
Authors: Jacqueline Halls Bryan, Peter Hailstone
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