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Rasheed Khan operators a pastry business in Guy's Hill. The following data was obtained for the year 2020 Non-current Assets Office Equipment at book value
Rasheed Khan operators a pastry business in Guy's Hill. The following data was obtained for the year 2020 Non-current Assets Office Equipment at book value Motor Vehicle at book value Transactions during the year January December 650,000 900,000 750,000 920,000 i) Equipment with book value of 55 000 was sold at a loss of 12.000 ii) Motor Vehicle with book value of 80,000 was sold for a profit of $5,000 iii) Depreciation charges for the year was : Equipment 25,000, Motor Vehicle 40,000 What was the selling price for the motor vehicle
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