Question

Chandra Ltd. expects that a plant becomes useless which is appearing in the books at 10 lakh gross value. The company charges SLM depreciation over an estimated period of 10 years and estimated scrap value is 3% of the cost. At the end of 7th year the plant has been assessed as useless and decided to sell. Its estimated net realizable value is 83, 10, 000 . Determine the loss/gain on retirement of the PPE.​

Answer 1

Answer:

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