Answered step by step
Verified Expert Solution
Question
1 Approved Answer
850 The debit side of Trial balance of the firm shows a balance of Rs.185500. The amount of depreciation amounting to Rs.2500 has not been
850 The debit side of Trial balance of the firm shows a balance of Rs.185500. The amount of depreciation amounting to Rs.2500 has not been provided in the books. The debit balance in the trial balance should be if the amount is provided: A. Rs.183000 B. Rs.185500 C. Rs.188000 D. Rs.190500 851 A firm had purchased machinery of Rs.2 lac with expected life of 6 years. The scrap value is Rs.20000. The machinery is sold at the end of 4th year, for Rs.85000. What is the profit or loss, on sale of machinery. A. Rs. 15000 profit B. Rs.5000 profit C. Rs.10000 loss D. Rs.15000 loss
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started