Question : Mention the net amount of 'Source' or 'Use' of cash when a fixed asset (having a book value of Rs. 25,000) is sold at a loss of Rs. 5,000.
Option 1: Sources Rs 20,000
Option 2: Sources Rs 25,000
Option 3: Used Rs 20,000
Option 4: None of the above
Correct Answer: Sources Rs 20,000
Solution : Answer = Sources Rs 20,000 Sources Rs 20,000 because selling price (inflow of cash Rs 20,000 ) = book value loss 25,000-5000=20,000 Hence, the correct option is 1.
Question : Mention the net amount of 'source' or 'use' of cash when a fixed asset having book value of Rs.15,000 is sold at a loss of Rs.5,000 -
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Question : Apple Ltd. has Machinery written down value of which On 1st April 2019 was Rs 6,60,000 and on 31st March 2020 was Rs 7,50,000. Depreciation for the year was Rs 40,000. At the beginning of the year, an item of machinery was sold for Rs 25,000 which had a written-down value of
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