Given that the value of furniture on 1st Januray 1993 is Rs. 8,000, furniture purchased during the year is Rs. 4,000, sale of furniture no loss no profit basis is Rs. 2,000, and the furniture is valued at Rs. 7,000 on 31st December 1993, the depreciation for the year 1993 will be:
A. Rs. 1,000
B. Rs. 3,000
C. Rs. 5,000
D. Rs. 7,000
Answer: Option B
This Question Belongs to Commerce >> Accounting
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