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Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000?
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Cost of asset purchased rs 1500000. Installation expenses rs 150000. r...
Calculation of Depreciation
Calculation of Book Value
Calculation of Loss on Sale
Therefore, the loss on sale of the asset is Rs. 619600.
- Cost of Asset = Rs. 1500000
- Installation Expenses = Rs. 150000
- Total Cost = Rs. 1650000
- Rate of Depreciation = 8%
- Depreciation per year = Total Cost * Rate of Depreciation = Rs. 132000
Calculation of Book Value
- Book Value as on 1/1/2016 = Total Cost - Depreciation till 1/1/2016
- Depreciation till 1/1/2016 = Depreciation per year * Number of years from purchase to 1/1/2016
- Number of years from purchase to 1/1/2016 = (1/1/2016 - Date of Purchase)/365 = (1/1/2016 - Date of Purchase)/365
- Book Value as on 1/1/2016 = Rs. 1269600
Calculation of Loss on Sale
- Sale Value = Rs. 650000
- Loss on Sale = Book Value - Sale Value = Rs. 619600
Therefore, the loss on sale of the asset is Rs. 619600.
Community Answer
Cost of asset purchased rs 1500000. Installation expenses rs 150000. r...
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Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000?
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Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000?.
Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Cost of asset purchased rs 1500000. Installation expenses rs 150000. rate of depreciation 8%(slm). date of sale1/1/2016 sale value 6,50,000?.
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