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Standard XI
Accountancy
Journal & Ledger for Recording Profit or Loss
A machine wit...
Question

A machine with a cost of Rs. 1,00,000 & accumulated depreciation of Rs. 80,000 & was sold at a loss of Rs. 6,000. Bank account shall have been debited by ___


A

Rs. 26,000

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B

Rs. 14,000

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C

Rs. 6,000

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D

None of the above

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Solution

The correct option is B

Rs. 14,000


Book value = Rs. 20,000
Loss = Rs. 6,000

Amount received
= Rs. 20,000 - Rs. 6,000
= Rs. 14,000


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