Journal entry

as per company act:

assets value                     2000000

less: depreciation ( say)    15000( assumed one month used at the rate of 10%)

w d v on sale date              1985000

actual sale                           1720000

loss                                       265000

entry:

for purchase:

asset a/c           dr

    to bank a/c

for dep:

depreciation a/c    dr

       to asset

for sale:

bank a/c           dr

loss a/c            dr

        to asset a/c

agreed with kaya 

yes loss is 265000/- .... hidden adjustment is Depreciation adj @ 10%..

plz kaya how to calculate depreciation amount i am not understand it??????????i think it would be 16667 rs..........(2000000*10*1/100*12)

100% Agree with Mr.Souvik and loss is 2.8 Lakh