This question was created from Tutorial No 8 General Deductions - Specific Deductions.docx

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This question was created from Tutorial No 8 General Deductions - Specific Deductions.docx https://www.coursehero.com/file/24491255/Tutorial-No-8-General-Deductions-Specific-Deductionsdocx/

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Q 2 Disposal of depreciable asset - balancing adjustment event
On 12 September 2016, Sofitel Ltd disposed of an item of plant that it used in its business
for $160,000. It originally cost the company $210,000 on 1 July 2011 and had been
depreciated at 40% pa using the diminishing value method (i.e. it had an effective life of
five years).
Required

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