.... ASSET DISPOSAL.... GRADE 11. - TopicsExpress

.... ASSET DISPOSAL.... GRADE 11. The procceds on disposal of fixed asset represents the Cash received for an old desk to an employee, on 1 sept 2009. The desk was sold for R1550. The balance is still outstanding. The cost price of the desk was R4200. Its accumulated depreciation on 1 march 2009 was R2700. Depreciation on equipment is calculated at 10% p.a on cost. < Accounting period Ends 28 Feb 2010. >. Calculate the profit or loss made on disposal. Or you may construct Asset disposal account. 10 marks. @jkatshwa

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