RG Wholesalers Pty Ltd is a small business entity and as at 1 July 2019 had an opening balance of its general small business pool of $120,000. During the 2020 tax year the company purchased new equipment for $45,000 on 1 December 2019 and for $60,000 on 1 May 2020. The company disposed of an old machine and received $5,000 for its disposal. What is the closing balance of the company's general small business pool as at 30 June 2020?

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The Answer of RG Wholesalers Pty Ltd is a small business entity and as at 1 July 2019 had an opening balance of its general small business pool of $120,000. During the 2020 tax year the company purchased new equipment for $45,000 on 1 December 2019 and for $60,000 on 1 May 2020. The company disposed of an old machine and received $5,000 for its disposal. What is the closing balance of the company's general small business pool as at 30 June 2020?

RG Wholesalers Pty Ltd Is a Small Business Entity and as at 1