Ltd bought a laptop computer for its business that cost £2,000 and it has a net book value of £1,200 after one year. If Trent sells the laptop for £700 at that time, the profit / (loss) on disposal would be: Select one: O a. The profit on disposal would be £1,300 o b. The profit on disposal would be £50 O c. The loss on disposal would be £1,300 o d. The loss on disposal would be £500

Ltd bought a laptop computer for its business that cost £2,000 and it has a net book value of £1,200 after one year. If Trent sells the laptop for £700 at that time, the profit / (loss) on disposal would be: Select one: O a. The profit on disposal would be £1,300 o b. The profit on disposal would be £50 O c. The loss on disposal would be £1,300 o d. The loss on disposal would be £500

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter17: Property Transactions: §1231 And Recapture Provisions

Section: Chapter Questions

Problem 11DQ

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