An entity sells a forklift truck with a cost of 40,000, whose accumulated depreciation at the disposal date amounts to 28,000. The sale price is 15,000 and the costs of disposal are 1,000. What gain on disposal should be recognised in profit or loss?
- Cost
- 40,000
- Accumulated depreciation at the disposal date
- 28,000
- Sale price
- 15,000
- Costs of disposal
- 1,000