A limited has purchases Machine at 1 January 2021 with following transactions.

List price Rs 500,000

Trade discount Rs. 30,000

Early settlement discount / cash discount = Rs. 20,000

Transportation cost to bring machine in premises Rs. 10,000

Installation charges Rs. 5,000

During transportation, transportation vehicle got an accident and repair on vehicle Rs. 4,000.

During Installation, there is a damage of machine and repair cost Rs. 2,000.

Trail running cost / start up cost Rs. 10,000.

Useful life 5 Years

Salvage value Rs. 20,000

Required: Calculate

Initial cost to be capitalized.

Depreciation expense under:

Straight line method

Reducing balance method

Sum of year digit method

At 30 June 2023, machine disposed at a value of Rs. 145,000. Calculate gain or loss on disposal.