* not completed

. Jamie Limited purchased a car 4 years ago for £20,000. The car has now been sold for £7,000. Accumulated depreciation on the car at the date of disposal amounted to £16,000. What is the profit or loss on disposal of the car?

£3,000 loss correct incorrect

£3,000 profit correct incorrect

£7,000 loss correct incorrect

£7,000 profit correct incorrect

* not completed

. Charlie Limited paid £50,000 for a piece of machinery exactly 3 years ago. The directors decided that the piece of machinery would have a residual value of £Nil and depreciated the asset on the straight line basis over 5 years. The piece of machinery has now been sold for £15,000. What is the profit or loss on disposal and the cash inflow from the disposal of this non-current asset?

£5,000 loss, cash inflow of £5,000 correct incorrect

£5,000 profit, cash inflow of £5,000 correct incorrect

£5,000 loss, cash inflow of £15,000 correct incorrect

£5,000 profit, cash inflow of £15,000 correct incorrect

* not completed

. Bertie Limited bought a small factory building 14 years ago for £150,000. Accumulated depreciation on this building for the 14 years stands at £42,000. The small factory building has just been sold and this sale generated a profit on disposal of £92,000. What was the cash inflow from the disposal of this non-current asset?

£42,000 correct incorrect

£92,000 correct incorrect

£200,000 correct incorrect

£242,000 correct incorrect

* not completed

. Hettie Limited paid £80,000 for a piece of machinery two and a half years ago. Accumulated depreciation on this piece of machinery for the two and a half years stands at £50,000. This piece of machinery has just been sold and this sale generated a loss on disposal of £5,000. What was the cash inflow from the disposal of this non-current asset?

£5,000 correct incorrect

£25,000 correct incorrect

£30,000 correct incorrect

£50,000 correct incorrect

* not completed

. Hattie Limited paid £100,000 for a piece of machinery exactly 4 years ago. The directors decided that the piece of machinery would have a residual value of £20,000 and depreciated the asset on the straight line basis over 5 years. The piece of machinery has now been sold for £25,000. What is the profit or loss on disposal and the cash inflow from the disposal of this non-current asset?

£5,000 profit, cash inflow of £45,000 correct incorrect

£5,000 loss, cash inflow of £45,000 correct incorrect

£11,000 profit, cash inflow of £25,000 correct incorrect

£11,000 loss, cash inflow of £25,000 correct incorrect