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Calculate recoupment and capital profit

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Namberry (Pty) Ltd sold a vehicle on 31 October 2020 for N$120 000. The vehicle was originally purchased on 1 November 2018 at a cost of N$300 000. The accumulated depreciation at 31 October 2020 is N$200 000. The wear and tear allowances that have been claimed on the vehicle up to date of sale are N$150 000. The remaining vehicles have a Carrying Amount of N$240 000 as at year end. These vehicles were all acquired on the same date

Problem 1: Calculate recoupment and capital profit

Reference no: EM132790310

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