Can you help me to calculate the profit or loss on this vehicle that was...
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Can you help me to calculate the profit or loss on this vehicle that was sold. thank you
On 31 May 2021, DPS Suppliers sold a vehicle that cost R360 000 for R80 000 cash. The accumulated depreciation on the vehicle sold amounted to R270 000 on 01 March 2021. Depreciation on vehicles is calculated at 20% per annum on the diminishing balance. The financial year of DPS Suppliers ends on the last day of February each year
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