Hello everyone,
I need some help on this accounting question:
For GHI Ltd, how much cash was spent on Property and Plant this year if plant (nbv £1000) was sold & Plant yearly depreciation is £2000. [No dep'n on property]. Extra data given :
This Year :
Property at cost - £6,000
Plant at nbv - £5,000
Last year :
Property at cost - £3,000
Plant at nbv - £4,000
I found £7,000 (£3,000 for Property and £4,000 for Plant (4000 - 2000 -1000 = 1000, and 5000 -1000 = 4000) but it is not one of the options of the MCQ. It's either a - 2000 ; b - 4000 ; c - 6000 ; d - none of these
I'm reluctant to choose answer d because it's usually never "none of these"...
If someone could help me out, that would be very nice.
Thank you in advance!
I need some help on this accounting question:
For GHI Ltd, how much cash was spent on Property and Plant this year if plant (nbv £1000) was sold & Plant yearly depreciation is £2000. [No dep'n on property]. Extra data given :
This Year :
Property at cost - £6,000
Plant at nbv - £5,000
Last year :
Property at cost - £3,000
Plant at nbv - £4,000
I found £7,000 (£3,000 for Property and £4,000 for Plant (4000 - 2000 -1000 = 1000, and 5000 -1000 = 4000) but it is not one of the options of the MCQ. It's either a - 2000 ; b - 4000 ; c - 6000 ; d - none of these
I'm reluctant to choose answer d because it's usually never "none of these"...
If someone could help me out, that would be very nice.
Thank you in advance!