# Accounting Paper 1, November 2024, question 1.1.4

> Calculate the profit or loss on the vehicle that Lotus Bay Ltd traded in on 1... Marked mark by mark. Q1.1.4, Accounting Paper 1 November 2024, 5 marks.

Canonical: https://sharpkop.co.za/accounting/2024-nov-p1/q1-1-4/
Last updated: 2026-11-12

Subject: Accounting. Source: Based on Nov 2024 · Paper 1 · Q1.1.4. Marks: 5. Not yet checked by a teacher.

## Question 1.1.4 (5 marks)

Lotus Bay Ltd, financial year ended 29 February 2024.
The vehicle traded in on 1 October 2023:
Cost price: R300 000
Accumulated depreciation on 1 March 2023: R96 000
Depreciation for the period 1 March 2023 to 30 September 2023: R24 000
Trade-in value allowed by the dealer: R185 000

Calculate the profit or loss on the vehicle that Lotus Bay Ltd traded in on 1 October 2023. Use the information provided.

## Practise it

[Answer this question](https://sharpkop.co.za/accounting/2024-nov-p1/q1-1-4/) and see it marked mark by mark, with the reason for every lost mark.

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