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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:
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