The statement of profit or loss
. Ashok Limited bought a piece of machinery 3 years ago for £350,000. The directors of Ashok Limited anticipated that the machinery would have a residual value of £50,000 and have a useful life of 5 years. Straight line depreciation of £180,000 has been charged up to the end of the third year of the machinery's useful life. The directors have now received a cash offer for the machine of £100,000. What will be the profit or loss on the sale of this piece of machinery if the directors of Ashok Limited accept the £100,000 offer?

. Fred Limited buys a piece of plant and machinery for £200,000. The directors anticipate that the machinery will have a residual value after four years of £40,000. If Fred Limited depreciates the asset on the straight line basis and sells the asset after three years for £85,000, what is the profit or loss on disposal of the asset?

. Kishor Limited bought an office building 10 years ago for £1,500,000. At the date of purchase, the directors of Kishor Limited anticipated that the office building would have a residual value of £500,000 and have a useful life of 50 years. Depreciation has been charged on the straight line basis. The directors have now received an offer for the office building of £1,700,000. What would be the profit on the sale of the office building if the directors of Kishor Limited accept the offer?

. John Limited has a financial year end of 30 June. The company buys a car for £60,000 on 1 July 2021. The directors of John Limited expect the car to have a resale value of £12,000 when it is sold at the end of its useful life in 4 years' time. John Limited charge depreciation on non-current assets on a monthly basis. What would the profit or loss on disposal be if the car were to be sold for £30,000 on 30 September 2023?