0:00
Hello everyone.
00:01
So the question says that compute the gain or loss for each of the asset disposals that occurred in 2022.
00:09
So first item is given machinery and then it has gain or loss.
00:24
So talking about the first scenario, so the cost of machinery is given $61 ,060 purchased on january 1, 2012.
00:33
So till december 31st, 2021, its value has a value has a $1 ,000 .00 .00.
00:35
So till december 31st, 2021, its value has a become nil because all amount transferred to accumulated depreciation so that is 610060 multiplied by 10 so there is no loss on no profit so this is not applicable similarly i'm talking about amount as there is no gain loss there is no amount over here now talking about the next one that is forklift so talking about fours clift so talking about four four forklift so we'll see as cost of purchase of machinery is 25 ,800 and depreciation till 30 june 2022 is 25 ,800 divided by 5 that gives 5 ,160.
02:20
Now 5 ,160 plus 5 ,160 plus 5, 160 plus 25 ,880 so this gives 18 ,060 how do we have calculated 25 ,080 this also we'll explain that 5 ,160 divided by 2 now this on calculating we get 7 ,740 so now now written down value as on 30 june 2022 is 10 ,32020 that is sale value minus 7 ,740.
03:39
So we get a gain of $2 ,580...