STATEMENT OF CASHFLOW ACCN4 June 2016 Q4 Van Moorsel HelpWatch
Please would you be able to help me with this question. Basically I cannot seem to work out:
-profit or loss on non-current asset disposal
The reason for not being able to work out the first is because I know the original cost of the asset and I have worked out the depreciation ([£6375] please see my workings attached) but how do I know the 'proceeds' to compare the NBV to, to see whether it is a profit or a loss or not. I have looked at the markscheme and I still cannot work it out.
Also, I know how to work out the intrest paid but how do I know what amount out of the £120,000 that was repaid in the year as I see no way to work this out from the question.
Thank you for your help.
LINK FOR MY WORKINGS: