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Sally Ramos sold the following assets in June 2023: REQUIRED: Classify each asset and calculate any capital gain or loss on disposal. Assets Purchase date
Sally Ramos sold the following assets in June 2023: REQUIRED: Classify each asset and calculate any capital gain or loss on disposal. Assets Purchase date Purchase price Sales price Ring 20/7/1985 $10,000 $600,000 Furniture 23/9/2020 $9,000 $10,000 TV set 17/2/2000 $10,500 $5,000 Stamps 30/8/2021 $450 $4,000 Indian Rug 14/3/2018 $17,000 $20,000 Coin collection 22/2/2021 $600 $70 Main residence 5/8/1997 $230,000 $980,000
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