Interested to Buy Any Domain ? << Click Here >> for more details...
Calculate the profit/loss on sale of the following assets
as on 30th september 2000
cost of the asset on 01.05.95 50000/-
Salvage Value 5000/-
Method of depriciation & date WDV 15%
sales of asset on 30.09.2000 Rs 25000/-
- 4 Answers
- 11905 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / chalapathi rao govada
Calculation of Profit or loss on sale of a asset
Sale value 25000
Less:
Cost of the asset on 1-5-95 50,000
Less:Dep for 1995 5,000
WDV on Jan 1st 1996 45,000
Less:Dep for 1996 6,750
WDV on Jan 1st 1997 38,250
Less: Dep for 97 5,738
WDV on Jan 1st 98 32,513
Less: Dep for 98 4,877
WDV on Jan 1st 99 27,636
Less: Dep for 99 4,145
WDV on Jan 1st 2000 23,490
Less:Dep for 2000 2,643
WDV on 30/9/00 20,848 20848
Profit on Sale of Asset 4152
| Is This Answer Correct ? | 24 Yes | 2 No |
Answer / b.narasimha rao
ASSET VALUE-SALVAGE VALUE
50000-5000=45000
FOR 31/12/95 ONLY FOR 8 MONTHS
45000*15/100=6750/12*8 =4500
FOR 31/12/96 45000-4500=40500*15/100=6075
FOR 31/12/97 40500-6075=34425*15/100=5163
FOR 31/12/98 34425-5163=29262*15/100=4389
FOR 31/12/99 29262-4389=24873*15/100=3730
FOR 30/09/2000 24873-3730=21143*15/100=3171/12*9=2378
30/09/2000 ASSET VALUE =21143-2378=18765
PROFIT ON SALE OF ASSET =SALE OF ASSET-ASSET VALUE
25000-18765=6235
SO PROFIT ON SALE OF ASSET =6235
| Is This Answer Correct ? | 6 Yes | 5 No |
Answer / bselvakumar
Sale value 25000
Less:
Cost of the asset on 1-5-95 50,000
Less:Dep for 1995 5,000
WDV on Jan 1st 1996 45,000
Less:Dep for 1996 6,750
WDV on Jan 1st 1997 38,250
Less: Dep for 97 5,738
WDV on Jan 1st 98 32,513
Less: Dep for 98 4,877
WDV on Jan 1st 99 27,636
Less: Dep for 99 4,145
WDV on Jan 1st 2000 23,490
Less:Dep for 2000 2,643
WDV on 30/9/00 20,848 20848
Total depriciation 29153
add sold value 25000
54153
net profit on sales 54153- cost 50000 = 4153
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / sachin
Sale value 25000
Less:
Cost of the asset on 1-5-95 50,000
Less:Dep for 1995 5,000
WDV on Jan 1st 1996 45,000
Less:Dep for 1996 6,750
WDV on Jan 1st 1997 38,250
Less: Dep for 97 5,738
WDV on Jan 1st 98 32,513
Less: Dep for 98 4,877
WDV on Jan 1st 99 27,636
Less: Dep for 99 4,145
WDV on Jan 1st 2000 23,490
Less:Dep for 2000 2,643
WDV on 30/9/00 20,848 20848
Profit on Sale of Asset 4152
| Is This Answer Correct ? | 2 Yes | 3 No |
what is debt equity ratio
7 Answers Banking, ICICI, State Bank Of India SBI,
i received cheque from the customer and deposited in bank please tell me the both entries in tally
2 Answers Shivani Agriculture,
What is PBDIT?
9 Answers Banking, Goldman Sachs, Pat Trade Links,
debentures
what are the purpose for the preparation of cost centre ?
call options?
difference between accrual,payable and provision
types of accounts and its rules
what is depreciation?
while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??
Who Invented Accountancy??
How Many Type's of Cheques? with explanation and Examples?
Audit 
