A-LevelAccountingAccounting for non-current assets9706/12 · Feb/Mar 2018 · Q41 Mark
The following information relates to a motor vehicle part-exchanged for a new vehicle in the year. $ cost of old vehicle 20000 accumulated depreciation at the date of sale 8000 profit on disposal 3000 cost of new vehicle 25000 The balance payable for the new vehicle was paid from the business bank account. How much was the payment from the bank account?
A$9000
B$10000
C$15000
D$20000
✓ Correct answer
B: $10000
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