From the following information calculate the amount for sale of building to be shown in the Receipt & payment A/c:

1. Building as on 1st April 2020 = ₹6,00,000
2. Building as on 31 march 2021 = ₹3,50,000
3. Depreciation for a year = ₹60,000
4. Loss on sale of Building = ₹30,000

₹1,60,000

The correct answer is option 3- ₹1,60,000.

Opening Balance = 6,00,000
Less : Dep - 60,000
Less : Loss - 30,000
Less: Closing balance - 3,50,000
Sale during the year = 1,60,000

BUILDING A/C