An Asset with revalued cost of 12k, initial cost 10k, depre of 5k, was sold for 8k. What is gain/loss a. Gain 1k b. Gain 3k c. Loss 2k d. Loss 4k

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by Shoaib Sarwar , Financial Controller , Saudi Bakeries Limited

Option1 - Gain1k.

Asset cost12 K

Acc. Dep. 5 K

Sale value8 K

Difference is Gain.

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