[CBSE] Q 6 Depreciation Solutions TS Grewal Class 11 (2023-24)

Are you looking for a solution of Question number 6 of the Depreciation chapter TS Grewal Class 11 CBSE Board for 2023-24 Session.

On 1st Apirl, 2016, a firm purchased a machinery for ₹ 1,05,000. The scrap value was estimated to be ₹ 5,000 at the end of asset’s 10 year’s life. Straight Line Method of depreciation was used. The accounting year ends on 31st March every year. The machine was sold for ₹ 6,000 on 31st March, 2023. Calculate the following:

(i) The Depreciation expense for the year ended 31st March, 2017.

(ii) The net book value of the asset on 31st March, 2021.

(iii) The gain or loss on sale of the machine on 31st March, 2023.

Solution:-

i) The depreciation expenses in the first year

= (₹ 10,5000 – 5000)/10 = ₹ 10,000

ii) The net book value of the asset on 31st March 2021

= ₹ 1,05,000 – 10,000 ✕ 5 = ₹ 55,000

iii) The loss on the sale of the asset on 31st March 2023

= ₹ 1,05,000 – 1000 ✕ 7 – 600 = ₹ 29,000

Following is the list of all solutions of the depreciation chapter of ts Grewal CBSE for the 2023-24 session.

S.N	Solutions
1	Question – 1
2	Question – 2
3	Question – 3
4	Question – 4
5	Question – 5
6	Question – 6
7	Question – 7
8	Question – 8
9	Question – 9
10	Question – 10

S.N	Solutions
11	Question – 11
12	Question – 12
13	Question – 13
14	Question – 14
15	Question – 15
16	Question – 16
17	Question – 17
18	Question – 18
19	Question – 19
20	Question – 20

S.N	Solutions
21	Question – 21
22	Question – 22
23	Question – 23
24	Question – 24
25	Question – 25
26	Question – 26
27	Question – 27