Continuing with the case of Shiva Industries Ltd., now assume that the company sold the revalued machine
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Continuing with the case of Shiva Industries Ltd., now assume that the company sold the revalued machine in the beginning of the 8th year for Rs. 13, 50,000. Determine the profit/loss on disposal under the WDV method and its treatment. Also show how the disposed machine will be treated in the financial statements.
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solution Given Cost of machine Rs 1000000 Rate of depreciation 15 per year WDV method Machine sold i...View the full answer
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