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What investing cash outflows for the purchase of plant

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Reference no: EM133012365

These are the balance sheets of Mitchell Ltd:

                                                             30 June

                                                  2006                 2007

                                                     K                        K

Plant                                    10 000          15 000

Accumulated Depreciation - Plant 4 000               5 000

The profit and loss statement for the year ended 30 June 2007 shows:

                                                      K

Depreciation Expense - plant 1500

Proceeds from the sale of plant 1600

Carrying value of plant sold 2500

During the year Mitchell Ltd sold plant which had cost K3000.

Problem 1: The investing cash outflows for the purchase of plant during the year are:

A. K2000

B. K5000

C. K8000

D. K15 000

E. None of the above

Reference no: EM133012365

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