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A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April?
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A limited company purchased on 1st January 2014 a plan for Rupees 3800...
Purchase and Sale of Plants by a Limited Company
Introduction:
In this scenario, a limited company has made two plant purchases and subsequently sold one of them. We will analyze the details of these transactions and determine the value of the plant purchased on 1st April.
Plant Purchased on 1st January 2014:
- The limited company purchased a plant on 1st January 2014 for Rupees 38,000.
- Additionally, they incurred Rs 2,000 for cartage and brokerage on this purchase.
Plant Purchased on 1st August 2016:
- On 1st August 2016, the company purchased another plant for Rupees 20,000.
Sale of the Plant Purchased on 1st January 2014:
- The plant purchased on 1st January 2014 was sold on the same date for Rupees 25,000.
Determining the Value of the Plant Purchased on 1st April:
To find the value of the plant purchased on 1st April, we need to consider the details given and make some calculations.
Calculation:
1. Cost of the plant purchased on 1st January 2014:
- Purchase cost: Rupees 38,000
- Cartage and brokerage: Rupees 2,000
- Total cost: Rupees 40,000
2. Proceeds from the sale of the plant purchased on 1st January 2014:
- Sale proceeds: Rupees 25,000
3. Net loss from the sale of the plant purchased on 1st January 2014:
- Net loss = Total cost - Sale proceeds
- Net loss = Rupees 40,000 - Rupees 25,000
- Net loss = Rupees 15,000
4. Loss on the sale of the plant purchased on 1st January 2014:
- Loss = Net loss + Cartage and brokerage
- Loss = Rupees 15,000 + Rupees 2,000
- Loss = Rupees 17,000
5. Value of the plant purchased on 1st April:
- Purchase cost = Rupees 20,000
Conclusion:
Based on the given information and calculations, the value of the plant purchased on 1st April is Rupees 20,000.
Introduction:
In this scenario, a limited company has made two plant purchases and subsequently sold one of them. We will analyze the details of these transactions and determine the value of the plant purchased on 1st April.
Plant Purchased on 1st January 2014:
- The limited company purchased a plant on 1st January 2014 for Rupees 38,000.
- Additionally, they incurred Rs 2,000 for cartage and brokerage on this purchase.
Plant Purchased on 1st August 2016:
- On 1st August 2016, the company purchased another plant for Rupees 20,000.
Sale of the Plant Purchased on 1st January 2014:
- The plant purchased on 1st January 2014 was sold on the same date for Rupees 25,000.
Determining the Value of the Plant Purchased on 1st April:
To find the value of the plant purchased on 1st April, we need to consider the details given and make some calculations.
Calculation:
1. Cost of the plant purchased on 1st January 2014:
- Purchase cost: Rupees 38,000
- Cartage and brokerage: Rupees 2,000
- Total cost: Rupees 40,000
2. Proceeds from the sale of the plant purchased on 1st January 2014:
- Sale proceeds: Rupees 25,000
3. Net loss from the sale of the plant purchased on 1st January 2014:
- Net loss = Total cost - Sale proceeds
- Net loss = Rupees 40,000 - Rupees 25,000
- Net loss = Rupees 15,000
4. Loss on the sale of the plant purchased on 1st January 2014:
- Loss = Net loss + Cartage and brokerage
- Loss = Rupees 15,000 + Rupees 2,000
- Loss = Rupees 17,000
5. Value of the plant purchased on 1st April:
- Purchase cost = Rupees 20,000
Conclusion:
Based on the given information and calculations, the value of the plant purchased on 1st April is Rupees 20,000.
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A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April?
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A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April?.
A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for A limited company purchased on 1st January 2014 a plan for Rupees 38000 and spent Rs 2,000 for cartage and brokerage on 1st April 2015 if purchased and other plan for rupees 20000 on 1st August 2016 the plant purchased on 1st Jan 2014 the sold for rupees 25000 on the same date the plant purchase on 1st April?.
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