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Querist : Anonymous

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Querist : Anonymous (Querist)
08 June 2012 Dear Sir,

Opening Balance as on 1st jan 20000.00 and Rs. 1200/- furniture has been exchanged with additional pay Rs. 500/- on same date and depreciation Rate 10% then what will be closing value of furniture in the balance sheet.

Please solve the question
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C.A Anshul Singhal

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C.A Anshul Singhal (Expert)
08 June 2012 Opening balance As On Jan---- 20000
Add Furniture Purchase Jan---- 1700
Total -----21700
Less Sale Of Furniture ------ 1200
Balance ------20500
Depreciation Rate 10%
Depreciation (Amount) ------2050
Closing Value -----18450
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