[ISC] Q 33 Solution Depreciation TS Grewal Class 11 (2022-23)

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On 1st October, 2016, Meenal bought a machine for ₹ 50,000 on which he spent ₹ 10,000 for carriage and freight; ₹ 2,000 for brokerage of the middle-man, ₹ 8,000 for installation. The machine is depreciated @ 10% p.a. on written down value basis. On 31st March, 2019 the machine was sold to Deepa for ₹ 61,000 and ₹ 1,000 was paid as commission to broker through whom the sales was effected. Find the profit or loss on sale of machine if accounts are closed on 31st March, every year.

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