SOLUTION
If net collection is Rs. 100 Loss will be Rs. 4 and hence book value of assets must be Rs. 104. As such, net amount realised from fixed assets will be: 100 / 104 of Rs. 52,000 = Rs. 50,000
Fixed Assets appear in the Balance Sheet of a firm at Rs. 52,000. They realised at a loss of 4% on net collection. State the amount collected from such assets.
- Post category:Accountancy
- Reading time:1 mins read