Xenia no longer needs a second van in her business, and so she decides to sell it.

Question:

The van originally cost £8300 and by Xenia’s year-end of 31 March 20X4 depreciation had accumulated of £6330. She sells the van for £2380 on 1 April 20X4.

What is the profit or loss on sale of the van?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting For Non Specialists

ISBN: 9781844802050

2nd Edition

Authors: Catherine Gowthorpe

See More Books

Question Posted: Jul 09, 2024 01:00 AM

See More Questions

Four years ago, Sam purchased a vacant lot for $10,000. He just sold it for $13,000. During the time Sam owned the property he paid $350 per year in taxes, $150 per year on maintenance like grass...
17. (5 pts) During a sale, computers are selling at a rate of (37)units per hour, where t is the number of hours since the sale began. Find the total number of computers sold between hours 1 and 8 of...
Genevieve Shannara has always wanted to open her own kennel and grooming services; she had been grooming pets for friends and family from her apartment for extra cash since high school. When the...
Suppose $x$ is a linked-list Node. What is the effect of the following code fragment? \[x \cdot \text { next }=x \cdot \text { next } . \text { next; }\]
Historically, Shop-Mart has gotten an average of 2000 hours of use from its G&E fluorescent lightbulbs. Because its fixtures are attached to the ceiling, the bulbs are rather cumbersome to replace,...
A truck driver is hired on as an employee and is tasked with driving 1000 pounds of grain from California to New York. There is one direct route that the employee is instructed to take. The employee...
How does a knowledge-management approach to managing projects improve the likelihood of project success? AppendixLO1
The controller of a school district had recorded the entire property tax levy, $20,000,000, as revenues when levied during the first month of the year. At year-end the auditor states that $3,000,000...
Sales Transactions Practice Example Concept: The sale or return of inventory in a perpetual system requires two journal entries-one to record the revenue portion of the transaction and one to record...
Xanthe runs a florists shop. Her assistant goes out every day in the van delivering flowers. The van accumulates high mileage quickly and Xanthe usually replaces it every three years. The van cost 10...
At 1 January 20X3 William has the following balances in his books related to the fixed asset of cars: ie Cars at cost 38 370 Less: accumulated depreciation (15 540) Net book value 22 830 He acquires...
A massless rigid rod of length L has a ball of mass m attached to one end (Figure). The other end is pivoted in such a way that the ball will move in a vertical circle. First, assume that there is no...
How do global power dynamics shape international relations, and what impact do these dynamics have on the balance of power among nation-states ?
(paragraph form each question) how do you formulate a strategy?, how do you implement a strategy? how do you evaluate a strategy?
Discuss the Now What Do I Do With Brad and Kerry case study. In doing so, please address the following areas: Identify the problem: Define the problem in human resource terms. Diagnose the cause(s):...
1. What role do traits, behaviors, and the situation (contingency theories) play in leadership effectiveness? Summarize what we know about these theories. 2. Describe 3 different situations in which...
How do you think learning report writing help you in your future work? Learning report writing now will help me in future as I am going to likely have to write lots of reports. While I know how to...
If the resultant force acting on the bracket is to be FR = {800j} N, determine the magnitude and coordinate direction angles ofF. 45 = 750 N
Answer the following two independent questions. a. MM Corporation is considering several proposed investments for the coming budget year. MM produces electrical apparatus for industrial complexes....
Jennifer purchased a home for $1,000,000 in 2016. She paid $200,000 cash and borrowed the remaining $800,000. This is Jennifer's only residence. Assume that in year 2024, when the home had...
business plan describing company with strengths and weaknesses. Any gaps in plan. Recommendations for improvement of the plan.
You wish to buy a car today for $35,000. You plan to put 10% down and finance the rest at 5.20% p.a. for six years. You will make equal monthly payments of $_______.

Xenia no longer needs a second van in her business, and so she decides to sell it.

Question:

Step by Step Answer:

Financial Accounting For Non Specialists

Students also viewed these Business questions