Original cost - 100000, Accumulated Deprecation - 80000, Sale Price - 15000
calculate resulting profit and loss.

Loss 20,000

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Profit 20,000

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Loss 5000

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Profit 5000

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Solution

The correct option is D Loss 5000
Solution to the given problem is as under:

Original Cost Rs.100000
Less: Accumulated depreciation Rs. 80000
-------------------
Written down value of the asset Rs.20000
Less: Sale Price Rs. 15000
-------------------
Loss on sale of asset Rs. 5000
--------------------

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The sale of equipment costing Rs16,000 with accumulated depreciation of Rs13,400 and sale price of Rs4,000 would result in a:

What do you mean by accumulated profits and losses?

=

60, 000

=

65, 100

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