Calculate the amount of cash from sale of machinery from the following items : A machine costing Rs. 20,000 having book value of Rs. 15,000 is sold for Rs. 12,000 and depreciation charged during the year was Rs. 8,000. The opening and closing balance in machinery account was Rs. 1,80,000 and Rs. 1,72,000 respectively.

Question

Option 1: Rs. 12,000

Option 2: Rs. 20,000

Option 3: Rs. 18,000

Option 4: Rs. 8,000

AfterBoards · Accepted Answer

The answer is 'Rs. 12,000'. View full solution:

List-I	List-II
(A) Operating activity	(I) Bank
(B) Investing activity	(II) Redemption of preference shares
(C) Financing activity	(III) Purchase of machinery
(D) Cash equivalents	(IV) Cash receipt from trade receivables.

CUET Accountancy 2023 11 June Shift 3 PYQs

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