Chris Ronaldo operates a business operator in Porto Listo. The following data was obtained for the year 2013 Non-current Assets January December Equipment at book value 640,000 840,000 Motor Vehicle at book value 750,000 940,000 Transactions during the year Equipment with book value of 35 000 was sold at a profit of 12,000 Depreciation charges for equipment was 25,000 Motor vehicle with book value of 40,000 was sold for a loss
Chris Ronaldo operates a business operator in Porto Listo. The following data was
obtained for the year 2013
Non-current Assets January December
Equipment at book value 640,000 840,000
Motor Vehicle at book value 750,000 940,000
Transactions during the year
Equipment with book value of 35 000 was sold at a profit of 12,000
Motor vehicle with book value of 40,000 was sold for a loss of 10,000
Depreciation charges for motor vehicle was 30,000
Question : How much was paid for new equipment purchased during the year?
- $260,000
- $285,000
- $295,000
- $320,000
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