Use the Information Below to Answer the Following Questions

question 44

Multiple Choice

Use the information below to answer the following questions:
Tanner Ltd purchased an item of equipment on the first day of the financial period, 1 July 2010, for $200 000. The equipment was depreciated using the reducing balance method and a rate of 40%. It was sold on 1 July 2012.
-If the machine was sold for $59 000 on 1 July 2011,what was the gain or loss on disposal?

• A) loss of $21 000
• B) loss of $59 000
• C) loss of $61 000
• D) loss of $13 000.

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Definitions:

Total Fat Intake

The total amount of fat consumed in one's diet over a specified period.

Physical Activity

Any bodily movement produced by skeletal muscles that require energy expenditure, beneficial for health.

High-Protein Foods

Foods that are rich in protein, essential for building and repairing body tissues, and include items such as meat, fish, eggs, and beans.

Gastric Residual

The amount of fluid remaining in the stomach after a period of digestion, often checked to monitor intake and digestion in patients unable to eat by mouth.