Equation: Opening + Purchases - Book value of sold item - Depreciation = Closing. Book value of sold furniture = 4,000. So 20,000 + P - 4,000 - 5,000 = 28,000. Solving, P = 17,000.
On 1st April 2020, the balance of furniture of ABC Ltd. was Rs. 20,000. During the year furniture costing Rs. 4,000 was sold at a gain of Rs. 3,000.…
CUET UG 2022 — Accountancy Financial Statements
2022mcqmedium
On 1st April 2020, the balance of furniture of ABC Ltd. was Rs. 20,000. During the year furniture costing Rs. 4,000 was sold at a gain of Rs. 3,000. Depreciation was charged on it Rs. 5,000. The balance of furniture on 31.3.21 was Rs. 28,000. The amount of furniture purchased was :
Official previous-year question
Held on 20 Jul 2022 · Verified 13 Jul 2026.
Options
- A
Rs. 8,000
- B
Rs. 17,000
- C
Rs. 12,000
- D
Rs. 13,000
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