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Calculate the profit/loss on sale of the following assets
as on 30th september 2000
cost of the asset on 01.05.95 50000/-
Salvage Value 5000/-
Method of depriciation & date WDV 15%
sales of asset on 30.09.2000 Rs 25000/-

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Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of th..

Answer / chalapathi rao govada

Calculation of Profit or loss on sale of a asset

Sale value 25000
Less:
Cost of the asset on 1-5-95 50,000
Less:Dep for 1995 5,000
WDV on Jan 1st 1996 45,000
Less:Dep for 1996 6,750
WDV on Jan 1st 1997 38,250
Less: Dep for 97 5,738
WDV on Jan 1st 98 32,513
Less: Dep for 98 4,877
WDV on Jan 1st 99 27,636
Less: Dep for 99 4,145
WDV on Jan 1st 2000 23,490
Less:Dep for 2000 2,643
WDV on 30/9/00 20,848 20848

Profit on Sale of Asset 4152

Is This Answer Correct ?    24 Yes 2 No

Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of th..

Answer / b.narasimha rao

ASSET VALUE-SALVAGE VALUE
50000-5000=45000

FOR 31/12/95 ONLY FOR 8 MONTHS
45000*15/100=6750/12*8 =4500
FOR 31/12/96 45000-4500=40500*15/100=6075
FOR 31/12/97 40500-6075=34425*15/100=5163
FOR 31/12/98 34425-5163=29262*15/100=4389
FOR 31/12/99 29262-4389=24873*15/100=3730
FOR 30/09/2000 24873-3730=21143*15/100=3171/12*9=2378

30/09/2000 ASSET VALUE =21143-2378=18765
PROFIT ON SALE OF ASSET =SALE OF ASSET-ASSET VALUE

25000-18765=6235

SO PROFIT ON SALE OF ASSET =6235

Is This Answer Correct ?    6 Yes 5 No

Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of th..

Answer / bselvakumar

Sale value 25000
Less:

Cost of the asset on 1-5-95 50,000
Less:Dep for 1995 5,000
WDV on Jan 1st 1996 45,000
Less:Dep for 1996 6,750
WDV on Jan 1st 1997 38,250
Less: Dep for 97 5,738
WDV on Jan 1st 98 32,513
Less: Dep for 98 4,877
WDV on Jan 1st 99 27,636
Less: Dep for 99 4,145
WDV on Jan 1st 2000 23,490
Less:Dep for 2000 2,643
WDV on 30/9/00 20,848 20848


Total depriciation 29153
add sold value 25000

54153

net profit on sales 54153- cost 50000 = 4153

Is This Answer Correct ?    2 Yes 2 No

Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of th..

Answer / sachin

Sale value 25000
Less:
Cost of the asset on 1-5-95 50,000
Less:Dep for 1995 5,000
WDV on Jan 1st 1996 45,000
Less:Dep for 1996 6,750
WDV on Jan 1st 1997 38,250
Less: Dep for 97 5,738
WDV on Jan 1st 98 32,513
Less: Dep for 98 4,877
WDV on Jan 1st 99 27,636
Less: Dep for 99 4,145
WDV on Jan 1st 2000 23,490
Less:Dep for 2000 2,643
WDV on 30/9/00 20,848 20848

Profit on Sale of Asset 4152

Is This Answer Correct ?    2 Yes 3 No

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