Answer Posted / 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

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