01.10.16
will be
machinary costing Rs 1,00,000 depreciation will be charged
at the
@ 15% pa
on 01.07.18 machinery was sold of
for Rs 55,000 books are closed on
31march every year
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on 1/10/16 machinery= 100000rs
dep (1.10.16- 31.3.17) = 100000×6/12 ×15/100
= rs 7500
dep ( 1.4.17- 31.3.18) = 100000 × 12/12 × 15/100
= rs 15000
dep ( 1.4.18- 1.7.18) = 100000 × 4/12 × 15/100
= rs 5000
profit/ loss = cost of machinery - depreciation
( total of all years) - sale value of
machinery
= 100000 - ( 7500+15000+5000) -
55000
= 100000 - 27500 - 55000
= 17500 rs
profit = 17500rs
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