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Particulars Year of Purchase Sale value Date of sale WDV 5,00,000 Value of new assets purchased 6,50,000 Date of purchase 13-3-2019 Calculate the income from Capital gains for the previous year 2018-19. Plant & Machinery Land & Buildings 2011 2011 15,00,000 1-1-2019 10,00,000 1-1-2019 3,00,000 8,50,000 13-3-2019

Particulars Year of Purchase Sale value Date of sale WDV 5,00,000 Value of new assets purchased 6,50,000 Date of purchase 13-3-2019 Calculate the income from Capital gains for the previous year 2018-19. Plant & Machinery Land & Buildings 2011 2011 15,00,000 1-1-2019 10,00,000 1-1-2019 3,00,000 8,50,000 13-3-2019

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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2. Mr. Benoy owns an industrial undertaking which is situated in the urban area of a city. He shifted the industrial undertakings to rural area as per government order. When shifted he had to sell the following assets of the concern: Plant & Machinery 2011 Land & Buildings Furniture 2011 2013 1,00,000 1-1-2019 Particulars Year of Purchase Sale value 15,00,000 Date of sale 1-1-2019 WDV 5,00,000 3,00,000 Value of new assets purchased 6,50,000 8,50,000 Date of purchase 13-3-2019 13-3-2019 Calculate the income from Capital gains for the previous year 2018-19. 10,00,000 1-1-2019 30,000 70,000 13-3-2019
Transcribed Image Text:2. Mr. Benoy owns an industrial undertaking which is situated in the urban area of a city. He shifted the industrial undertakings to rural area as per government order. When shifted he had to sell the following assets of the concern: Plant & Machinery 2011 Land & Buildings Furniture 2011 2013 1,00,000 1-1-2019 Particulars Year of Purchase Sale value 15,00,000 Date of sale 1-1-2019 WDV 5,00,000 3,00,000 Value of new assets purchased 6,50,000 8,50,000 Date of purchase 13-3-2019 13-3-2019 Calculate the income from Capital gains for the previous year 2018-19. 10,00,000 1-1-2019 30,000 70,000 13-3-2019
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