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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 $40,000

Included in the Statement of Financial Position:

30 June 20X2

30June 20X1

$

$

Plant

500,000

400,000

Accumulated depreciation

(170,000)

(130,000)

Additional information:

  • Proceeds for the plant that was sold was $190,000
  • 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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