A car cost £6,000 new

Accumulated depreciation to date is £4,000

Residual value is £2,000

It is sold for £2,700

What is the Profit/Loss on Disposal of Asset?


A car cost £6,000 new

Accumulated depreciation to date is £4,000

Residual value is £2,000

It is sold for £2,700

What is the Profit/Loss on Disposal of Asset?


£500 Loss


£200 Loss


£700 Profit


£600 Profit