The cost of the asset purchased on 1 st April, 2008 was Rs.24, 000. the depreciation was

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The cost of the asset purchased on 1^st April, 2008 was Rs.24, 000. the depreciation was provided at 10% on Straight Line Method. The asset was sold on 31^st Jan, 2009 for Rs.18, 000. Which of the following statements is/are true?

(a) Depreciation provided for the year was Rs.2,400

(b) Loss on the sale of asset was Rs.4,000

(d) Both (a) and (b).

Related Book For answer-question

Intermediate accounting

ISBN: 978-0077647094

7th edition

Authors: J. David Spiceland, James Sepe, Mark Nelson

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Posted Date: Feb 13, 2023 12:43 AM

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The cost of the asset purchased on 1 st April, 2008 was Rs.24, 000. the depreciation was

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