A fixed asset having book value of Rs 2000 was sold for Rs 1500. Which of the following is the gain or loss on the sale of fixed asset?

Rs 500 gain

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Rs 1500 gain

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Rs 500 loss

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Rs 1000 gain

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Solution

The correct option is C
Rs 500 loss

Loss= Rs 2000- Rs 1500= Rs 500.

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A fixed asset having book value of Rs 2000 was sold for Rs 1500. Which of the following is the gain or loss on the sale of fixed asset?

The correct option is C Rs 500 loss Loss= Rs 2000- Rs 1500= Rs 500.

The correct option is C
Rs 500 loss

Loss= Rs 2000- Rs 1500= Rs 500.