A fixed asset having a book value of Rs.2,000 was sold for Rs.1,500. In this case, there will be on sale of asset amounting .

gain

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loss

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Rs.500

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Rs.1,500

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Solution

The correct options are
B loss
C Rs.500
The sale price is less than the book value so, there is a loss on sale.
Loss on sale of asset
= Rs.2,000 - Rs.1,500
= Rs.500

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A fixed asset having a book value of Rs.2,000 was sold for Rs.1,500. In this case, there will be on sale of asset amounting .

The correct options are B loss C Rs.500The sale price is less than the book value so, there is a loss on sale. Loss on sale of asset = Rs.2,000 - Rs.1,500 = Rs.500

The correct options are
B loss
C Rs.500
The sale price is less than the book value so, there is a loss on sale.
Loss on sale of asset
= Rs.2,000 - Rs.1,500
= Rs.500