Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Sep 15, 2024

Plants and Things sold a delivery vehicle N$15,000 (15% VAT exclusive) on December 31st, 2020. The vehicle cost N$97,750 (15% VAT inclusive) at acquisition. Accumulated

Plants and Things sold a delivery vehicle N$15,000 (15% VAT exclusive) on December 31st, 2020. The vehicle cost N$97,750 (15% VAT inclusive) at acquisition. Accumulated depreciation on the date of delivery was 65,000. Which of the following applies to the treatment of profit or loss on disposal? (3 marks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Unclaimed Property A Reporting Process And Audit Survival Guide

Unclaimed Property A Reporting Process And Audit Survival Guide

Authors: Tracey L. Reid

1st Edition

0470278242, 978-0470278246

More Books

Students also viewed these Accounting questions

Question

★★★★★

Tom and Vicki are married and file a joint income tax return. They each purchase 50% of the stock in Guest Corporation from Al for $75,000. Tom is employed full-time by Guest and earns $100,000 in...

Answered: 1 week ago

Question

★★★★★

Partner A owns a one-interest in the ABC cash method, calendar year general partnership, which manufactures and sells inventory. A, B and C, the original partners, each made initial cash...

Answered: 1 week ago

Question

★★★★★

5. As an example of a situation in which several different statistics could reasonably be used to calculate a point estimate, consider a population of N invoices. Associated with each invoice is its...

Answered: 1 week ago

Question

★★★★★

Kidman & Associates is a law firm specializing in labor relations and employee-related work. It employs 30 professionals (5 partners and 25 associates) who work directly with its clients. The average...

Answered: 1 week ago

Question

★★★★★

Plants and Things sold a delivery vehicle N$15,000 (15% VAT exclusive) on December 31st, 2020. The vehicle cost N$97,750 (15% VAT inclusive) at acquisition. Accumulated depreciation on the date of...

Answered: 1 week ago

Question

★★★★★

9 Problem 2-26 (Algo) 9.09 points Refer to the stock options on Microsoft in the Figure 2.10. Suppose you buy a November expiration call option on 100 shares with the excise price of $135. Required:...

Answered: 1 week ago

Question

★★★★★

The well-insulated, rigid storage tank in the figure below contains air and carbon dioxide, separated by a moveable divider that allows for heat transfer to occur between the two gases. If the air...

Answered: 1 week ago

Question

★★★★★

53. The following are production and cost data for two products, buckets and pails, produced in batches of 600 each. Contribution margin per batch Machine set-ups needed per batch Buckets Pails $360...

Answered: 1 week ago

Question

★★★★★

Use the following is the equilibrium phase diagram for the iron-carbon system to answer the following questions. (Please round compositions to the nearest 0.1 wt.% in your answers and calculations)...

Answered: 1 week ago

Question

★★★★★

Allicyn is building a development dashboard. She discovers she needs to have more focus on factors that explain why certain decisions are made that affect her part of the supply chain. Which area is...

Answered: 1 week ago

Question

★★★★★

4.18 Consider the following CO oxidation reactions: VERVIE k CO + OH / CO+H of chemical me k 2 CO + O2 CO2 + 0, shemu where k (cm/gmol-s) = 1.17 107 T (K) 1.35 exp[+3000/RT (K)], k (cm/ ms, the...

Answered: 1 week ago

Question

★★★★★

to encourage a drive for change by developing new ideas;

Answered: 1 week ago

Question

★★★★★

4 What are the alternatives to the competences approach?

Answered: 1 week ago

Question

★★★★★

2 What different concepts and approaches are used in countries with dissimilar cultures?

Answered: 1 week ago

Previous Question Next Question