Category: 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 […]