| (i) | A minor repair of 20,000 of Machinery on 01.10.2019 was treated as an Asset by mistake (machinery). Average profit will be: | (a) | 60750 |
| (ii) | A minor repair of 20,000 of Machinery on 01.10.2019 was treated as an Asset by mistake (machinery). Depreciation on Machinery was 10% per annum by using straight line method. Average profit will be: | (b) | 60,950 |
| (iii) | A minor repair of 20,000 of Machinery on 01.10.2019 was treated as an Asset by mistake (machinery). Depreciation on machinery is 10% per annum on written down value method. Average profit will be: | (c) | 60,000 |
| (iv) | A minor repair of 20,000 of Machinery on 01.Apr.2019 was treated as an Asset by mistake (machinery). Depreciation on machinery is 10% per annum on written down value method. Average profit will be: | (d) | 60,725 |
A) (i)-c; (ii)-a; (iii)-d; (iv)-b
B) (i)-b; (ii)-c; (iii)-d; (iv)-a
C) (i)-d; (ii)-a; (iii)-c; (iv)-b
D) (i)-c; (ii)-a; (iii)-b; (iv)-d
Correct Answer: A
Solution :
(i)-c; (ii)-a; (iii)-d; (iv)-b
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