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In the year-ended 31 December 2022, Wilma sold a piece of machinery for 10,000. The machinery had been purchased in 2019 for 30,000 and it
In the year-ended 31 December 2022, Wilma sold a piece of machinery for 10,000. The machinery had been purchased in 2019 for 30,000 and it was estimated that it had a useful economic life of 5 years and residual value of 4,000. Depreciation is charged on a straight-line basis, with a full charge in the year of acquisition but no charge in the year of sale. The profit or loss on sale of machinery for the year-ended 31 December 2022 is c) 5,600 profit d) 5,600 loss c) 4,400 profit d) 4,400 loss
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