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Calculate the gain or loss on disposal

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A building was disposed of during the year for £100,000 cash. The cost of building was £60,000. The building was purchased on the 1 June 2015. It is depreciated on a straight line basis at 2%. A full year depreciation is charged in the year of purchase but none in the year of disposal. The accounting entries to record the disposal.

problem 1: Calculate the gain or loss on disposal.

Reference no: EM132814131

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