Question
The following information was included in the financial statements of Flamingo Ltd for the year ended 30 June 20X2: Included in the Statement of Profit
The following information was included in the financial statements of Flamingo Ltd for the year ended 30 June 20X2:
Included in the Statement of Profit or Loss:
- Gain on sale of plant $50,000
Included in the Statement of Financial Position:
| 30 June 20X2 | 30June 20X1 |
| $ | $ |
Plant | 600,000 | 500,000 |
Accumulated depreciation | (150,000) | (140,000) |
Additional information:
- Proceeds for the plant that was sold was $170,000
- Accumulated depreciation of plant that was sold was $70,000
Required:
Write in the box below the amount of cash paid by Flamingo Ltd to purchase plant during the year ended 30 June 20X2. Do not include any dollar signs, negative signs, brackets or spaces in your answer.
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