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Which is correct regarding the sale of equipment a

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Problem 1: The cost price and the accumulated depreciation on equipment A are R70 000 and R35 000 respectively on 1 March 20.1. Equipment A is sold on 1 March 20.1 for R40 000. Which of the following is correct regarding the sale of equipment A?

A. A loss of R5 000 was made on the sale of the equipment A.
B. A loss of R40 000 was made on the sale of the equipment A.
C. A loss of R30 000 was made on the sale of the equipment A.
D. A profit of R5 000 was made on the sale of the equipment A.
E. A profit of R30 000 was made on the sale of the equipment A.Reset Selection

Reference no: EM132956260

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