Multiple Choice
On 31 December 2012 an aeroplane with a cost of $200 000 has accumulated depreciation written off of $90 000.If it is sold for $130 000 on 1 January 2013 what will be the net effect of the sale on the income statement?
A) $20 000 profit
B) $20 000 loss
C) $70 000 loss
D) $40 000 profit
Correct Answer:
Verified
Correct Answer:
Verified
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