Solution-Calculate the profit or loss on sale of machine

Calculate the profit or loss on sale of machine

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Reference no: EM13516614

Calculation of profit/loss on sale of asset under SLM.

ABC Ltd purchased a second-hand machine for Rs 1,50,000 and spent Rs 30,000 on its repairs. Depreciation is to be provided @ 10% p.a. according to Straight Line Method. This machine was sold for Rs 1,35,000. Accounting year is financial year. Calculate the profit or loss on sale of machine in each of the following alternative cases:

If the date of purchase is Apr 1, 2006 and date of sale is Mar 31, 2009.
If the date of purchase is Apr 1, 2006 and date of sale is Sep 30, 2008.
If the date of purchase is July 1, 2006 and date of sale is Mar 31, 2009.
If the date of purchase is July 1, 2006 and date of sale is Sep 30, 2008.

Reference no: EM13516614

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Calculate the profit or loss on sale of machine

Reference no: EM13516614

Reference no: EM13516614

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