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Nottingham plc. bought a motor vehicle on 1 January 2015 for £20,000. It was dis...
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Nottingham plc. bought a motor vehicle on 1 January 2015 for £20,000. It was disposed of two years later on 1 January 2017 for £12,000. The company maintains a policy to depreciate all motor vehicles at 20% per year on a reducing balance basis.
What is the effect from disposal of this motor vehicle on Nottingham plc.'s statement of profit or loss for the year ended 31 December 2017?
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