The carrying value of a company's non-current assets was $480,000 at 1 August 2014. During the year ended 31 July 2015, the company sold non-current assets for $24,000 on which it made a loss of $14,000. the depreciation for the year was $96,000. what was the carrying value of non-current assets at 31 July 2015?

SUGGESTED SOLUTIONS

	$		$
OB COST	480,000	DISPOSAL CARRYING VALUE	38,000
		ANNUAL DEPRECIATION	96,000
CLOSING COST	346,000

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