{"id":44987,"date":"2024-04-15T21:51:37","date_gmt":"2024-04-15T21:51:37","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=44987"},"modified":"2024-04-15T21:51:37","modified_gmt":"2024-04-15T21:51:37","slug":"five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/","title":{"rendered":"Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. There was also accumulated depreciation of Rs. 50,000 on this machinery. At the beginning of the sixth year it was sold for Rs. 60,000. Profit or loss from this sale will be"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Profit of Rs. 10,000&#8243; option2=&#8221;Loss of Rs. 50,000&#8243; option3=&#8221;Loss of Rs. 40,000&#8243; option4=&#8221;No profit or no loss&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. Loss of Rs. 50,000<\/strong><\/p>\n<p>The total cost of the machine is Rs. 1,00,000 + Rs. 10,000 = Rs. 1,10,000.<br \/>\nThe accumulated depreciation is Rs. 50,000.<br \/>\nThe sale price is Rs. 60,000.<br \/>\nTherefore, the loss from the sale is Rs. 1,10,000 &#8211; Rs. 60,000 = Rs. 50,000.<\/p>\n<p>Option A is incorrect because the profit is Rs. 10,000, not Rs. 10,000.<br \/>\nOption C is incorrect because the loss is Rs. 50,000, not Rs. 40,000.<br \/>\nOption D is incorrect because there is a loss from the sale, not no profit or no loss.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Profit of Rs. 10,000&#8243; option2=&#8221;Loss of Rs. 50,000&#8243; option3=&#8221;Loss of Rs. 40,000&#8243; option4=&#8221;No profit or no loss&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-44987","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. There was also accumulated depreciation of Rs. 50,000 on this machinery. At the beginning of the sixth year it was sold for Rs. 60,000. Profit or loss from this sale will be<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. There was also accumulated depreciation of Rs. 50,000 on this machinery. At the beginning of the sixth year it was sold for Rs. 60,000. Profit or loss from this sale will be\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Profit of Rs. 10,000&#8243; option2=&#8221;Loss of Rs. 50,000&#8243; option3=&#8221;Loss of Rs. 40,000&#8243; option4=&#8221;No profit or no loss&#8221; correct=&#8221;option2&#8243;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/\" \/>\n<meta property=\"og:site_name\" content=\"MCQ and Quiz for Exams\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-15T21:51:37+00:00\" \/>\n<meta name=\"author\" content=\"rawan239\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"rawan239\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. There was also accumulated depreciation of Rs. 50,000 on this machinery. At the beginning of the sixth year it was sold for Rs. 60,000. Profit or loss from this sale will be","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/","og_locale":"en_US","og_type":"article","og_title":"Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. There was also accumulated depreciation of Rs. 50,000 on this machinery. At the beginning of the sixth year it was sold for Rs. 60,000. Profit or loss from this sale will be","og_description":"[amp_mcq option1=&#8221;Profit of Rs. 10,000&#8243; option2=&#8221;Loss of Rs. 50,000&#8243; option3=&#8221;Loss of Rs. 40,000&#8243; option4=&#8221;No profit or no loss&#8221; correct=&#8221;option2&#8243;]","og_url":"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/","og_site_name":"MCQ and Quiz for Exams","article_published_time":"2024-04-15T21:51:37+00:00","author":"rawan239","twitter_card":"summary_large_image","twitter_misc":{"Written by":"rawan239","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/","url":"https:\/\/exam.pscnotes.com\/mcq\/five-years-ago-on-old-machine-was-purchased-for-rs-100000-and-rs-10000-was-paid-on-its-repairing-charges-there-was-also-accumulated-depreciation-of-rs-50000-on-this-machinery-at-the-beginnin\/","name":"Five years ago, on old machine was purchased for Rs. 1,00,000 and Rs. 10,000 was paid on its repairing charges. 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