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Categories >> Accounting >> Accounting-AllOther
 
 
 
Question 
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/-
 Question Submitted By :: Guest
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Answer
 
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
 
0
Chalapathi Rao Govada
 
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