Question

Balance Sheet
Liabilities 2018-19
Amounts
2019-20
Amounts
Assets 2018-19
Amounts
2019-20
Amounts
Creditors
Loan from Bank
Capital
40000
25000
40000
125000
230000
44000 - 50000
153000
247000
Cash
Debtors
Stock
Machinery
Land
Building
10000
30000
35000
80000
40000
35000
230000
7000
50000
25000
55000
50000
60000
247000
During the year 2019-20, a Machine costing Rs 10000 (Accumulated Depreciation Rs 3000)
was sold for Rs 5000. The provision for depreciation against Machinery in the year 2018-19
and 2019-20 was Rs 25000 and Rs 40000 respectively. Net Profit for the year 2019-20
amounted to Rs 45000.

Answer 1

Answer:

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Step-by-step explanation: