Footloose Limited acquired furniture and fittings on 1 July 2020 for $54923. The estimated useful life of the furniture
Posted: Mon May 02, 2022 6:39 am
Footloose Limited acquired furniture and fittings on 1 July 2020
for $54923. The estimated useful life of the furniture and fittings
at acquisition date was 6 years and the residual value was $0.
Footloose Limited uses a straight line method for depreciation
calculations. The company sold all the furniture and fittings on 1
January 2022 for $55424. How much is a gain (+) or a loss (-)?
A.
9655
B.
501
C.
18809
D.
14232
for $54923. The estimated useful life of the furniture and fittings
at acquisition date was 6 years and the residual value was $0.
Footloose Limited uses a straight line method for depreciation
calculations. The company sold all the furniture and fittings on 1
January 2022 for $55424. How much is a gain (+) or a loss (-)?
A.
9655
B.
501
C.
18809
D.
14232