Delta is a carpenter who purchases her own tools for work. She purchased the following items during the financial year. 10/03/2023 Band Saw (Effective Life Rate: 12 years) $1,210 80% work purposes 30/09/2022 Bench Drill (Effective Life Rate: 12 years) $450 100% work purposes 15/04/2023 Table Saw (Effective Life Rate: 10 years) $300 100% work purposes 10/06/2023 Laptop (Effective Life Rate: 2 years) $990 80% work purposes She has an existing low value pool which had a closing balance of $1,965 at the end of the 2022 financial year. Calculate the closing balance of Delta's low value pool for the 2023 financial year. A. $2, 237 B $0 C. $2,702 D. $2,561
Delta is a carpenter who purchases her own tools for work. She purchased the following items during the financial year. 10/03/2023 Band Saw (Effective Life Rate: 12 years) $1,210 80% work purposes 30/09/2022 Bench Drill (Effective Life Rate: 12 years) $450 100% work purposes 15/04/2023 Table Saw (Effective Life Rate: 10 years) $300 100% work purposes 10/06/2023 Laptop (Effective Life Rate: 2 years) $990 80% work purposes She has an existing low value pool which had a closing balance of $1,965 at the end of the 2022 financial year. Calculate the closing balance of Delta's low value pool for the 2023 financial year. A. $2, 237 B $0 C. $2,702 D. $2,561
Chapter14: Property Transactions: Determination Of Gain Or Loss And Basis Considerations
Section: Chapter Questions
Problem 28P
Related questions
Question
![Delta is a carpenter who purchases her own tools for work. She purchased the following items
during the financial year. 10/03/2023 Band Saw (Effective Life Rate: 12 years) $1,210 80%
work purposes 30/09/2022 Bench Drill (Effective Life Rate: 12 years) $450 100% work
purposes 15/04/2023 Table Saw (Effective Life Rate: 10 years) $300 100% work purposes
10/06/2023 Laptop (Effective Life Rate: 2 years) $990 80% work purposes She has an existing
low value pool which had a closing balance of $1,965 at the end of the 2022 financial year.
Calculate the closing balance of Delta's low value pool for the 2023 financial year. A. $2, 237 B
$0 C. $2,702 D. $2,561](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F49f560f1-bb9f-4d38-8463-df126d82f12d%2Fc187da83-6b41-4aab-9bd4-9e3f42bbb0f2%2Fuwt0x3u_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Delta is a carpenter who purchases her own tools for work. She purchased the following items
during the financial year. 10/03/2023 Band Saw (Effective Life Rate: 12 years) $1,210 80%
work purposes 30/09/2022 Bench Drill (Effective Life Rate: 12 years) $450 100% work
purposes 15/04/2023 Table Saw (Effective Life Rate: 10 years) $300 100% work purposes
10/06/2023 Laptop (Effective Life Rate: 2 years) $990 80% work purposes She has an existing
low value pool which had a closing balance of $1,965 at the end of the 2022 financial year.
Calculate the closing balance of Delta's low value pool for the 2023 financial year. A. $2, 237 B
$0 C. $2,702 D. $2,561
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Recommended textbooks for you
![Intermediate Accounting: Reporting And Analysis](https://www.bartleby.com/isbn_cover_images/9781337788281/9781337788281_smallCoverImage.jpg)
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning