A business buys a machine for ( 40,000) and depreciates it at (20 %) per year on

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A business buys a machine for $£ 40,000$ and depreciates it at $20 \%$ per year on a straight line basis. After exactly three years it is sold for $£ 19,000$. What is the profit or loss on disposal?

(A) $£ 3,000$ loss

(B) $£ 3,000$ profit

(D) $£ 1,480$ loss

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Frank Woods Business Accounting An Introduction To Financial Accounting

ISBN: 9781292365435

15th Edition

Authors: Alan Sangster, Lewis Gordon, Frank Wood

Question Posted: Mar 01, 2024 03:00 AM

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A business buys a machine for ( 40,000) and depreciates it at (20 %) per year on

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Frank Woods Business Accounting An Introduction To Financial Accounting

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