Wildcat ltd a manufacturing company sold a machinery for Rs. 8 lac at the year end. The company had purchased the machinery four year back for Rs. 15 lac and had depreciated the same using written down value method of depreciation @20%. As an accounts executive of wildcat ltd calculate the WDV of the asset for the 4 years , accumulated depreciation for 4 years and profit and loss if any.
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value of the machine} I5 lakh
(4 yrs. Back)
Deprn:20%
After4yrs the value is = 15x(80/100),^4=6.144 lakh
= Rs.614400
selling price = 800000
WDV. = 614400
profit. = Rs. 1 85600
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