Question
A Plant of Rs.3, 000 was sold for Rs.4, 200. Depreciation provision to date was Rs.400 and commission paid to selling agent was Rs.350 and
A Plant of Rs.3, 000 was sold for Rs.4, 200. Depreciation provision to date was Rs.400 and commission paid to selling agent was Rs.350 and labour charges paid for removing the plant was Rs.100 Profit on sale of plant will be:
(a) Rs.1,200
(b) Rs.1,000
(c) Rs.1,150
(d) None of these
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
18th edition
1292162406, 978-1292162409
