The following information is extraced from SOFP as at 31 December of Sioux, a limitted...
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Accounting
The following information is extraced from SOFP as at 31 December of Sioux, a limitted liability company: 20X1 and 20X2 respectively: Plant & Equipment cost 280000 305000 Accumulated depreciation (110000) (140000) Trade Payables 50500 64000 During the year non current assets which had cost $80000, with a carrying amount of $35000, were sold for $50000. Include in trade payables at 31 December 20X2 is an amount of 100000 in respect of a purchase of an item of property, plant anf equipment in the year that has not yet been paid for. What would be Gain/ Loss on disposal of Plant and equipment and Movement of Trade payables on statement of cashflow for the year ended December 31, 20X2?
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