URGENT!

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(A) XYZ Ltd. had a total Fixed Assets of Rs.3120 Lacs in its Books. It felt that value of assets have gone up and decided to revalue the same being revalued at Rs. 3960 lacs.

After some time, it decided to sell the assets off. It managed to sell them at Rs. 4135 Lacs only.

Calculate the following after disposal

a. The balance under the Head Fixed Assets

b. The Cash/ Bank Balance

c. Profit or Loss, if any in Income statement ( P&L A/c)

d. Revaluation reserve

e. Other Reserves

(B) Explain each step behind the computation in detail