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What is the profit or loss on disposal

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Reference no: EM132835539

Problem 1: A company purchases a machine with an expected useful life of 6 years for 9000. After two years of use management revised expected useful life to 8 years . The machine is to be depreciated at 30 % per annum on the reducing balance basis. A full years depreciation is charged in the year of purchase with none in the year of sale. During year 4 sold for 3000. What is the profit or loss on disposal?

Reference no: EM132835539

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