Calculate the closing balance of dallas low value pool

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Reference no: EM133182300

Question - Dallas is an electrician who purchases his own tools for work.

He purchased the following items during the financial year.

10/03/2021 Nail Gun $970 100% work purposes

30/09/2020 Ladder $1,090 100% work purposes

15/04/2021 Laser level $280 100% work purposes

10/06 2021 Laptop $870 50% work purposes

He has an existing low value pool which had a closing balance of $2,910 at the end of the 2020 financial year.

Required - Calculate the closing balance of Dallas' low value pool for the 2021 financial year and explain why any item (if applicable) would not be included in the Pool.

Reference no: EM133182300

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