A business purchased a crane for $40 000 on 1 January 2001. The crane was depreciated at

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A business purchased a crane for $40 000 on 1 January 2001. The crane was depreciated at the rate of 30% per annum using the reducing-balance method. The crane was sold on 31 December 2003 for $7750. What was the profit or loss on disposal?

A. $3750 loss

B. $3750 profit

C. $5970 loss

D. $5970 profit

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Accounting A Level And AS Level

ISBN: 9780521539937

1st Edition

Authors: Harold Randall

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Question Posted: Aug 27, 2023 09:15 AM

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A business purchased a crane for $40 000 on 1 January 2001. The crane was depreciated at

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Accounting A Level And AS Level

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