Question
Question 1 (10 marks) Your client Helen wants to fund her business as a fashion designer, therefore she has sold some of the assets as
Question 1 (10 marks) Your client Helen wants to fund her business as a fashion designer, therefore she has sold some of the assets as follows: 1- An antique impressionism painting Helens father bought in February 1985 for $4,000. Helen sold the painting on 1 December 2018 for $12,000. (2.5 marks) 2- Helen sold her historical sculpture on 1 January 2018 for $6,000. She has purchased the piece on December 1993 for $5,500. (2.5 marks) 3- An antique jewellery piece purchased in October 1987 for $14,000. Helen sold the antique jewellery piece on 20 March 2018 for $13,000. (2.5 marks) 4- Helen sold a picture for $5,000 on 1 July 2018. Her mother purchased the picture in March 1987 for $470. (2.5 marks)
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