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A machine of 3,000 was sold for 4,200. Depreciation provision to date was 400 and commission paid to selling agent was * 420 and wages paid to workers for removing the machine was 30. Profit on sale of machine will be (a) 1,200 (b) * 1.000 (c) 1,150 (d) None of these​?
Most Upvoted Answer
A machine of 3,000 was sold for 4,200. Depreciation provision to date ...
Solution:

Given,
Cost price of the machine = 3,000
Selling price of the machine = 4,200
Depreciation provision = 400
Commission paid to selling agent = 420
Wages paid to workers for removing the machine = 30

To find: Profit on sale of machine

Calculations:
1. Cost of the machine:
Cost price + Depreciation provision = 3,000 + 400 = 3,400

2. Total expenses:
Commission paid + Wages paid = 420 + 30 = 450

3. Profit/Loss:
Selling price - Cost of the machine - Total expenses = 4,200 - 3,400 - 450 = 350

Therefore, the profit on the sale of the machine is 350.

Answer: None of these (d)

Explanation:

The given options are not matching the calculated profit on the sale of the machine. The actual profit is 350, which is not given in any of the options. Hence, the answer is none of these (d).
Community Answer
A machine of 3,000 was sold for 4,200. Depreciation provision to date ...
1150
as 3000-400(Depreciation)
selling expense = 4200-420-30=3750
Now, 3750-2600=1150 ....
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A machine of 3,000 was sold for 4,200. Depreciation provision to date was 400 and commission paid to selling agent was * 420 and wages paid to workers for removing the machine was 30. Profit on sale of machine will be (a) 1,200 (b) * 1.000 (c) 1,150 (d) None of these​?
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A machine of 3,000 was sold for 4,200. Depreciation provision to date was 400 and commission paid to selling agent was * 420 and wages paid to workers for removing the machine was 30. Profit on sale of machine will be (a) 1,200 (b) * 1.000 (c) 1,150 (d) None of these​? 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 A machine of 3,000 was sold for 4,200. Depreciation provision to date was 400 and commission paid to selling agent was * 420 and wages paid to workers for removing the machine was 30. Profit on sale of machine will be (a) 1,200 (b) * 1.000 (c) 1,150 (d) None of these​? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A machine of 3,000 was sold for 4,200. Depreciation provision to date was 400 and commission paid to selling agent was * 420 and wages paid to workers for removing the machine was 30. Profit on sale of machine will be (a) 1,200 (b) * 1.000 (c) 1,150 (d) None of these​?.
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