Use the following information to answeer qu..

Question 1 Report

Use the following information to answeer questions below

Kako Ltd bought a machine for D 1,200,000 on 1st January 2018. Depreciation was provided annually at a rate of 10% using the diminishing balance method. The machine was sold for D 880,000 on 31st December 2021.

The profit or loss on disposal of the machine was

D 280,000 profit

D 87,480 loss

D 320,000 loss

D 92,680 profit

Provisions And Reserves

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	D
Cost	1200000
Year 1 ( 10% x 1200000)	120000
	1080000
Year 2 ( 10% x 1080000)	108000
	972000
Year 3 ( 10% x 972000)	97200
Depreciation	874800

Use the following information to answeer questions below Kako Ltd bought a machine for D 1,200,000 on 1st January 2018. Depreciation was provided annually a...