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A second hand machinery was purchased for Rs 1 00 000...

This question belongs to Commerce Accounting
Accounting
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A second hand machinery was purchased for Rs. 1,00,000 five years ago and was overhauled by carrying out some current repairs at a cost of Rs. 10,000. It has also an accumulated depreciation of Rs. 50,000. It has been disposed of in the beginning of the sixth year for Rs. 60,000. Profit/loss on such disposal shall be

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Correct Answer: Option D
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