Question 20 Amjad's year end is 30 September. He depreciates office furniture at 15% per annum on the straight line basis A full year's depreciation is charged in the year an asset is purchased, and no depreciation is charged in the year it is sold. In March 2005 Amjad bought office furniture for $80.000 If he sells the office furniture for $39,000 in July 2008, what will be Amjad's profit or loss on disposal? A loss of $7,000 B A profit of $5,000 CA profit of $7,000 D A loss of $5,000 Confirm Skip