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Question
In the following case indicate the amount to be debited as Capital Expenditure and Revenue Expenditure:
Furniture of the book value of ₹ 15,000 was sold off at ₹ 10,000. New furniture was purchased for ₹ 20,000 and ₹ 100 was paid as cartage on it.
One Line Answer
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Solution
Capital ₹ 20,100 (20,000 + 100), Revenue ₹ 5,000.
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Chapter 6: Capital and Revenue Expenditure/Income - PRACTICAL PROBLEMS [Page 85]
