| Q.11 | The Trial Balance of ABC Ltd. shows the balance of machinery as ₹5,60,000 as on 31 March 2022. The company uses the written down value method to calculate the 10% annual rate of depreciation for machinery. After investigation, it was discovered that a machine valued at ₹1,60,000 on 1 April 2022 was sold for ₹1,35,000 on 30 September 2022 in exchange for a new machine that cost ₹1,50,000. As per AS-3, determine the depreciation that will be charged to the Profit and Loss Account. | |
| Ans | A. ₹40,000 | |
| B. ₹7,500 | ||
| C. ₹55,500 | ||
| D. ₹8,000 |
Correct Ans Provided: C
