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October 05, 2025, 08:46:11 pm
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Author Topic: Profit on Disposal  (Read 8065 times)  Share 

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Chavi

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Profit on Disposal
« on: November 04, 2010, 02:27:15 pm »
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Did any manage to calculate a profit on Disposal of Fixtures and Fittings of $200 for the P+L Sheet?
I though VCAA was purposely trying to trick us. . .
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iwannagetA

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Re: Profit on Disposal
« Reply #1 on: November 04, 2010, 02:27:58 pm »
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was it a profit or a loss ?
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iwannagetA

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Re: Profit on Disposal
« Reply #2 on: November 04, 2010, 02:28:51 pm »
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i had loss on disposal of computer system ?
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Chavi

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Re: Profit on Disposal
« Reply #3 on: November 04, 2010, 02:29:18 pm »
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Under additional information it stated:

Fixtures and Fittings with a carrying value of $1300 will be sold for $1500 cash.

$1500 less $1300 = $200 profit - under 'add other revenue'
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_avO

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Re: Profit on Disposal
« Reply #4 on: November 04, 2010, 02:29:24 pm »
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OH MY GOD I didn't write that in.. but yea it should be profit on disposal of 200 (lol i wrote other revenues 'nil')
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Stormer

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Re: Profit on Disposal
« Reply #5 on: November 04, 2010, 02:29:53 pm »
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Profit on Disposal of Fixtures and Fittings of 200
Loss on Disposal of Computer System of 750?
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_avO

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Re: Profit on Disposal
« Reply #6 on: November 04, 2010, 02:30:15 pm »
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yes loss of 750
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iwannagetA

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Re: Profit on Disposal
« Reply #7 on: November 04, 2010, 02:30:51 pm »
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theory questions were easy :)
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xharax

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Re: Profit on Disposal
« Reply #8 on: November 04, 2010, 02:31:47 pm »
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 i wrote profit..pretty sure i calculated it right>.>
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Chavi

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Re: Profit on Disposal
« Reply #9 on: November 04, 2010, 02:31:52 pm »
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Quote from: Stormer on November 04, 2010, 02:29:53 pm
Profit on Disposal of Fixtures and Fittings of 200
Loss on Disposal of Computer System of 750?
The PC system was in question 1
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mmmmm

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Re: Profit on Disposal
« Reply #10 on: November 04, 2010, 02:31:58 pm »
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Quote from: Stormer on November 04, 2010, 02:29:53 pm
Profit on Disposal of Fixtures and Fittings of 200
Loss on Disposal of Computer System of 750?

Yup i got that. :)
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Chavi

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Re: Profit on Disposal
« Reply #11 on: November 04, 2010, 02:34:51 pm »
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Wonder how many students across the state got tripped up by this question. . .
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xharax

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Re: Profit on Disposal
« Reply #12 on: November 04, 2010, 02:35:41 pm »
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wuut = = there was disposal on computer aswell.. i thought it was from question 1 aswell
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Stormer

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Re: Profit on Disposal
« Reply #13 on: November 04, 2010, 02:36:51 pm »
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Quote from: xharax on November 04, 2010, 02:35:41 pm
wuut = = there was disposal on computer aswell.. i thought it was from question 1 aswell
That's only for Question 1. In the P/L, there's only the Profit.
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Yitzi_K

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Re: Profit on Disposal
« Reply #14 on: November 04, 2010, 02:41:33 pm »
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Yep, I had the profit of $200 in the P/L statement. I thought the exam in general was quite technical, there were many little tricks slipped in there.
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