A-LevelAccountingAccounting for non-current assets9706/12 · Oct/Nov 2020 · Q41 Mark
A company had a non-current asset which cost $370000. The asset had a 10-year useful life and an estimated residual value of $20000. A full year's charge for depreciation is made in every year of use. After four years the asset was sold. The loss on disposal was $30000 and disposal costs were $10000. What were the sale proceeds?
A$192000
B$200 000
C$202 000
D$210000
✓ Correct answer
D: $210000
Practise more questions on this topic
Oracle Prep sorts past-paper questions by topic, so you can drill Accounting for non-current assets and see which topics are most likely to come up next.
Sign up free →