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Calculate the profit or loss on disposal Cost :$80,0001st January 2021 Depreciation : 20% Straight line method Residual /Scrap Value : $20,000 Disposal Date 31st

  1. Calculate the profit or loss on disposal

Cost :$80,0001st January 2021

Depreciation : 20% Straight line method

Residual /Scrap Value : $20,000

Disposal Date 31st December 2021

Cash Received $40,000

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