* not completed

. The double entry required to remove the cost of a non-current asset disposed of from the books of account is:

Debit Non-current assets cost, Credit non-current asset disposals correct incorrect

Debit Non-current asset disposals, Credit accumulated depreciation correct incorrect

Debit Cash, Credit non-current asset disposals correct incorrect

Debit Non-current asset disposals, Credit Non-current assets cost correct incorrect

* not completed

. The double entry required to remove the accumulated depreciation charged up to the date of disposal of a non-current asset from the books of account is:

Debit Accumulated depreciation, Credit Non-current asset disposals correct incorrect

Debit Non-current asset disposals, Credit Accumulated depreciation correct incorrect

Debit Depreciation charge, Credit Non-current asset disposals correct incorrect

Debit Non-current asset disposals, Credit Depreciation charge correct incorrect

* not completed

. A non-current asset with an original cost of £25,000 was sold for £8,000. Accumulated depreciation charged on the asset up to the date of disposal was £15,000. What is the profit or loss on the disposal of this non-current asset?

£2,000 loss correct incorrect

£8,000 profit correct incorrect

£10,000 loss correct incorrect

£17,000 loss correct incorrect

* not completed

. A non-current asset with an original cost of £36,000 was sold for £12,000. The asset had been acquired 3 years and 3 months ago and had been depreciated at the rate of 25% straight line. The directors estimated the residual value of the asset at the date of acquisition as £nil. What is the profit on the disposal of this non-current asset?

£3,000 correct incorrect

£5,250 correct incorrect

£6,750 correct incorrect

£18.750 correct incorrect

* not completed

. A non-current asset with an original cost of £42,000 was sold for £18,000. The asset had been acquired 4 years ago and had been depreciated at the rate of 20% straight line. The directors estimated the residual value of the asset at the date of acquisition as £9,000. What is the profit on the disposal of this non-current asset?

£2,400 correct incorrect

£8,400 correct incorrect

£9,600 correct incorrect

£15,600 correct incorrect

* not completed

. A non-current asset with an original cost of £60,000 was sold for £18,600. The asset had been acquired 2 years ago and had been depreciated at the rate of 40% reducing balance. The directors estimated the residual value of the asset at the date of acquisition as £10,000. What is the profit or loss on the disposal of this non-current asset?

£1,400 loss correct incorrect

£3,000 loss correct incorrect

£6,600 profit correct incorrect

£9,400 loss correct incorrect