you have not answered my question;
An organisation buys a tangible non-current asset for £200,000. It has
an estimated scrap value of £20,000 and an expected useful economic life of 10 years.
o What depreciation will be shown in the income statement for year 3?
o How would the non-current asset be shown in the statement of financial position at the end of year 3?
o If the asset is sold for £120,000 in year 4, how will this affect:
§ the income statement for year 4?
§ the statement of financial position at the end of year 4?
o How will the sale of the tangible non-current asset affect the firm’s statement of cash flows?