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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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Answer Posted / 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 |
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The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690
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