A machinery was purchased on 1st January 2000 at a cost of Rs. 1,20,000 and was depreciated by diminishing balance method at the rate of 15% p.a. It was sold on 31st March 2002 for Rs. 80,000 what was the loss on sale of machine
A. Rs. 3,449
B. Rs. 3,658
C. Rs. 3,251
D. None of the above
Answer: Option A
This Question Belongs to Commerce >> Accounting
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