In singapore pinku Ltd sold a machine in the year ended 30 September 2023 for $23,000. This machine was purchased for S$60,000 in the year ended 30 September 2021 and it was depreciated over 5 years though CA was claimed under S19(1) over 3 years. What is the balancing adjustment for the above sale? A. Balancing Charge of $3,000 B. Balancing Charge of $13,000 C. BalancingAllowanceof$3,000 D. Balancing Allowance of $13,000
In singapore pinku Ltd sold a machine in the year ended 30 September 2023 for $23,000. This machine was purchased for S$60,000 in the year ended 30 September 2021 and it was depreciated over 5 years though CA was claimed under S19(1) over 3 years. What is the balancing adjustment for the above sale? A. Balancing Charge of $3,000 B. Balancing Charge of $13,000 C. BalancingAllowanceof$3,000 D. Balancing Allowance of $13,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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In singapore pinku Ltd sold a machine in the year ended 30 September 2023 for $23,000. This machine was purchased for S$60,000 in the year ended 30 September 2021 and it was
What is the balancing adjustment for the above sale?
A. Balancing Charge of $3,000
B. Balancing Charge of $13,000
C. BalancingAllowanceof$3,000 D. Balancing Allowance of $13,000
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