CA CPT June 2019 Question Paper Fundamentals of Accounting for online practice
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Question : 24 of 59
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The trial balance of Mahesh Traders shows the following information as on 31.03.08
Machinery — Rs.10,00,000 (Dr.)
Provision for Depreciation — Rs.3,00,000 (Cr.)
Entire Machinery was sold on 31.03.09 at a profit of 20% on Book Value. Depreciation is charged at 10% per annum on SLM Basis. Sale proceeds of the machinery will be_________
Machinery — Rs.10,00,000 (Dr.)
Provision for Depreciation — Rs.3,00,000 (Cr.)
Entire Machinery was sold on 31.03.09 at a profit of 20% on Book Value. Depreciation is charged at 10% per annum on SLM Basis. Sale proceeds of the machinery will be_________
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