Book value of furniture on 1st April 2022 is ₹ 60,000. Half of this furniture is sold for ₹ 20,000 on 30th September 2022
Book value of furniture on 1st April 2022 is ₹ 60,000. Half of this furniture is sold for ₹ 20,000 on 30th September 2022. Depreciation is to be charged on furniture @ 10% p.a.
Calculate loss on sale of furniture. Show how the loss on sale and depreciation on furniture will be shown in the Income & Expenditure Account for the year ended 31st March 2023.
Anurag Pathak Changed status to publish February 7, 2024
