Question

Kirti Co's Balance sheet shows fixed asset Rs. 360000.At the time of absorption calculation the market value. Then market value of fixed asset is

Answer 1

Answer:

Let's assume the market value be 100%

It is considered 15% less

Then present value of  fixed assets is 100%

-15% = 85%

If 85% = 246500

Then 100% = 246500 x 100/85 = 290000

Explanation:

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Answer 2

Given,

The fixed asset on Kirti Co's balance sheet is Rs. 360000.

To Find,

The actual market value of the fixed asset.

Solution,

At first, suppose the whole market value is 100%

It is thought to be 15% less.

Then the current value of fixed assets is = (100-15)=85%.

So we can say this,

⇒ 85%≡360000.

⇒100%≡$\frac{360000.100}{85}$=423529.41.

Hence , the actual whole market value of fixed assets is  Rs. 423529.41.