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On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.?
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On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On...
This Question doesn't states about depreciation and what to calculate as well.
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On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On...
Details of Machine Purchase and Sale:
- On 1st April 2015, Star Ltd. purchased 5 machines for 60,000 each, totaling 3,00,000.
- The machines were considered as assets of the company.
Machine Sale on 1st April 2017:
- On 1st April 2017, Star Ltd. decided to sell one of the machines.
- The machine was sold at a loss of 8,000.
- The loss incurred on the sale of the machine would affect the company's financial statements.
Impact on Financial Statements:
- The loss of 8,000 from the sale of the machine would be recorded as an expense in the income statement.
- This loss would reduce the company's net income for the period.
- The loss would also reduce the company's total assets by the same amount, impacting the balance sheet.
Reasons for Loss on Sale:
- There could be various reasons for selling the machine at a loss, such as technological advancements making the machine obsolete, decreased demand for the machine's products, or the machine becoming too costly to maintain.
Conclusion:
- Selling the machine at a loss of 8,000 would have financial implications for Star Ltd.
- It is essential for the company to analyze the reasons for the loss and consider the impact on its financial statements.
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On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.?
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On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.?.
On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st April, 2015, Star Ltd. purchased 5 machines for 60,000 each. On 1st April, 2017. one of the machine was sold at a loss of 8,000.?.
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