Solution of Q 6 Depreciation TS Grewal Class 11 (2023-24) CBSE
Step-by-step solution of Question 6, Chapter 15 Depreciation, TS Grewal Class 11 Accountancy 2023-24 for the CBSE Board.
Question 6
On 1st April, 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 years’ 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
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About this solution
This is Chapter 15 Depreciation of TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
Also, we have followed the proper format and workings which are required as per CBSE Guidelines. Just follow our presentation of solutions and score good marks in Accountancy Board Exam.
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