During the year there had been sales of non-current assets for RM30,000

Finance Sep 05, 2020

During the year there had been sales of non-current assets for RM30,000. The assets sold had originally cost RM50,000 and had a net book value of RM20,000. What is the sales proceed and its there a loss or gain on dispoal of of property, plant and equity?

Expert Solution

Computation of Loss or Gain on disposal of of Property, Plant and Equipment:

Given,

Sales of Non-current Assets = RM30,000

Net Book Value = RM20,000

Gain on disposal of of Property, Plant and Equipment = RM30,000-RM20,000 = RM10,000

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