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An old computer is recorded at ₹40000 but on admission its sale value is ₹11000 and value in use is ₹15000. If value in use is accepted what is the loss?

Answer and explanation

Correct answer: ₹25000

Accepted value is ₹15000 so decrease from book value is ₹25000. In revaluation the loss is based on the accepted new value.

Related tags

ComputerValue In UseRevaluation LossAsset RevaluationReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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