1. During the year 2015 ‐ 2016, Fixed Assets with a book value of Rs 2,40,000 (accumulated depreciation Rs 84,000) was sold for Rs 1,20,000
2. Provided Rs 4,20,000 as depreciation on Fixed Assets
3. Some investments are sold at a profit of Rs 48,000 and the Profit was credited to Capital Reserve
4. It was decided that stocks be valued at cost, whereas previously the practice was to value stock at cost less 10 percent. The stock was Rs 2,59,200 as on 31.03.2015. The stock as at 31.03.16 was correctly valued at Rs 3,60,000
5. It was decided to write off Fixed Assets costing Rs 60,000 on which depreciation amounting to Rs 48,000 has been provided.
6. Debentures are redeemed at Rs 105
