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Ludlow McLean operates a transport business in Portmore. The following data was obtained for the year 2022. Non current Assets Office Equipment at book value
Ludlow McLean operates a transport business in Portmore. The following data was obtained for the year 2022. Non current Assets Office Equipment at book value Motor Vehicle at book value January 650,000 750.000 December 900,000 920,000 Transactions during the year Equipment with book value of $55,000 was sold at a loss of $12,000 Motor Vehicle with book value of $80,000 was disposed of at a profit of $5,000 iii) Depreciation charges for the year was: Equipment $25,000, Motor Vehicle S40,000 How much was the selling price of the motor vehicle that was disposed of during the year
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