1) A building purchased several years ago was sold on 1 January 2010 for £2.5m. The carrying amount of the building at the date of sale was its revalued amount of £3.5m, less accumulated depreciation of £1.5m. An amount of £1m was included in a revaluation reserve in respect of the building. Calculate the profit or loss on disposal. 2) Peter has developed new computer software to help analyse more quickly chemical traces found at crime scenes. He is permitted to treat expenditure on this as a development activity. He incurred £50,000 in his accounting year ended 31 December 2009, and a further £13,000 in his accounting year ended 31 December 2010. From 1 January 2011, the software went on sale. Peter has estimated that the development will have a useful life of three years, by the end of which competitors will have caught up with him and will have started selling rival software. At this point he would withdraw from the market and would no longer sell the software. On a straight-line basis and assuming no residual value, what is the annual amortisation expense for the years ended 31 December 2011, 2012 and 2013? 3) In February 2011, Saheed receives an electricity bill of £2,100 for the period 1 November 2010 to 31 January 2011. His accounting period ends on 30 November 2010 and he is in the process of drafting his financial statements for that period. Calculate the amount he should accrue.