0452/12 Accounting Oct Nov 2023 Online Test | Cambridge IGCSE MCQ

Ravi’s financial year ends on 30 April.
Ravi bought a motor vehicle for $8000 on 1 May 2020 and sold it for $4050 on 1 May 2022.
He uses the reducing balance method of depreciation at 20% per annum.
What would be recorded in the income statement for the year ended 30 April 2023 for the disposal of the motor vehicle?