Accountancy, asked by commercegirl09, 3 months ago

19. Fumiture as on 31st March, 2019 4,40,000. Furniture (having Book value as on 1st April, 2018 of 40,000)
sold at a loss of 20% on 31st December, 2018. Furniture is depreciated @ 10% pa, Furniture costing
3,00,000 was also purchased on 1st October, 2018. Calculate Loss on sale of furniture
(a) 9.400
(b) 36,400
(c) 8,000
(d) 7,400 with full explanation ​

Answers

Answered by sangeeta9470
5

Answer:

Answer is 7400

book value of furniture sold on 1.4.2018

is 40000 it sold on 31.12.2018

we will charge depreciation for 9 months

40000×10%×9/12=3000

book value if furniture after charging depreciation

40000-3000 =37000

it sold at 20% loss si loss is 37000×20%=7400

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