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Independent Trucks Ltd sold equipment in the current year as follows (they did not incur any capital expenditures this year): Proceeds from sale of vehicles
Independent Trucks Ltd sold equipment in the current year as follows (they did not incur any capital expenditures this year): | ||||||
Proceeds from sale of vehicles (cost 100,000) | 500,000 | |||||
Tax written down values for plant and machinery at the beginning of the year were as follows: | ||||||
20% pool | 30% pool | |||||
WDV B/F | 0 | 20,000 | ||||
Calculate balancing charges for the year. Enter "0" if there are no balancing charges. Do not enter negative numbers (enter numbers as a positive value or as zero). |
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