IC46 GENERAL INSURANCE ACCOUNTS PREPARATION – 05

Que. 1 : Q1) Shivam Corporation purchased a machinery of Rs.50,000 on 1 January 2011 and incurred an installation charges of Rs.10,000. The depreciation is calculated at 10% on a straight line basis. On 30 June 2013, the machinery was sold for Rs.42,500. What will be the Loss or profit?    1.  a) Rs.2,500 profit    2.  b) Rs.5,500 loss    3.  c) Rs.2,500 […]