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Q.3. Max purchased a computer for Rs. 44,000 and leased out it to Ronny for four years on operating leases basis, after the lease period, residual value of the computer was estimated to be Rs.3,000. Max did not intend to use the computer after 4 years. Lease amount payable at the beginning of each year is Rs.22,000; Rs.13,640; Rs.6,820 \& Rs.3,410. SLM method was followed for the depreciation. (22=4 marks) 1. Depreciation to be provided in the first year will be Rs. 2. For, Max, the entire transaction is expected to generate (Profit/Loss) of Rs