The book value of furniture on 1st April, 2017 is ₹ 60,000. Half of this furniture is sold for ₹ 20,000 on 30th September,2017. Depreciation is to be charged on furniture 10% p.a.Calculate loss on sale of furniture . Show how the loss on sale and depreciation on furniture will be shown in the Income and Expenditure Account for the year ended 31st March, 2018.

The book value of furniture on 1st April, 2017 is ₹ 60,000. Half of

1.	The book value of furniture on 1st April, 2017 is ₹ 60,000. Half of this furniture is sold for ₹ 20,000 on 30th September,2017. Depreciation is to be charged on furniture 10% p.a.Calculate loss on sale of furniture . Show how the loss on sale and depreciation on furniture will be shown in the Income and Expenditure Account for the year ended 31st March, 2018.
Answer» The book value of furniture on 1st April, 2017 is ₹ 60,000. Half of this furniture is sold for ₹ 20,000 on 30th September,2017. Depreciation is to be charged on furniture 10% p.a. Calculate loss on sale of furniture . Show how the loss on sale and depreciation on furniture will be shown in the Income and Expenditure Account for the year ended 31st March, 2018.