6. On 1st April, 2020, furniture costing ₹ 55,000 was purchased. It is estimated that its useful life is 10 years at the end of which it will be sold for ₹ 5,000. Additions are made on 1st April, 2021 and 1st October, 2023 to the value of ₹ 9,500 and ₹ 8,400 (Residual values ₹ 500 and ₹ 400 respectively). Show the Furniture Account for the first four years, if Depreciation is written off according to the Straight-Line Method.

T.S.Grewal/2024 Edition/Practical Problems/Q-06

For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.

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