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What amount of decrease or increase in bank account

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Question - Dave and sons ltd purchased a new car costing $11000. An old car with a book value of $9000 was given in part exchange at a value of $7500. The balance of the purchase price for the new car was paid in cash.

Part A. Given the information provided above, what is the amount of decrease/increase in the bank (cash) account?

Part B. Given the information provided in Q13: Did Dave and sons ltd make profit or loss? (Please choose from either profit or Loss)

Part C. Given the information provided in Q13: What is the amount of profit or loss? (the numerical answer is required)

Reference no: EM132642674

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