Question

14. Vinod Engineering works 1 point
purchased a machine on 1st
April, 2017 for Rs.1,80,000 and
spent Rs.20,000 on its
installation. On 1st January
2018, it purchased another
machine for Rs.2.40.000. On
1st July 2019, the machine
purchased on 1st April, 2017
was sold for Rs.1,45.000. On 1st
October, 2019 another machine
was purchased for
Rs.4,00.000. Depreciation @
15% p.a. by Original Cost
Method. Accounts are closed
on 31st March every year.
Profit/Loss on machinery will be
(a) Profit Rs. 25,000
(b) Loss Rs 20,000
(C) Profit Rs 20,000
O
(d) Loss Rs 30,000

Answer 1

Explanation:

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