Question

15. On 1st April 2018 a machinery is purchased for 2,00,000. Depreciation is charged @ 10% p.a. on original cost method and books are closed on 31st December every year. On 1st July 2020 the machinery is sold for 1,20,000, Loss on sale will be: (A) 30,000 BY 35,000 (C) 40,000 (D) *25,000 ​

Answer 1

Answer:

15. On 1st April 2018 a machinery is purchased for 2,00,000. Depreciation is charged @ 10% p.a. on original cost method and books are closed on 31st December every year. On 1st July 2020 the machinery is sold for 1,20,000, Loss on sale will be: (A) 30,000 BY 35,000 (C) 40,000 (D) *25,000