10. Carriage Transport Company purchased 5 trucks at the cost of ₹2,00,000 each on April 01, 2011. The company writes off depreciation @ 20% p.a. on original cost and closes its books on December 31, every year. On October 01, 2013, one of the trucks is involved in an accident and is completely destroyed. Insurance … Read more
9. M/s. Excel Computers has a debit balance of ₹50,000 (original cost ₹1,20,000) in computers account on April 01, 2010. On July 01, 2010 it purchased another computer costing ₹2,50,000. One more computer was purchased on January 01, 2011 for ₹30,000. On April 01, 2014 the computer which has purchased on July 01, 2010 became … Read more
8. The following balances appear in the books of Crystal Ltd, on Jan 01, 2015 NCERT/Rationalised 2023-24/Numerical Questions/Q-08 Answer : Back
7. M/s Lokesh Fabrics purchased a Textile Machine on April 01, 2011 for ₹1,00,000. On July 01, 2012 another machine costing ₹2,50,000 was purchased. The machine purchased on April 01, 2011 was sold for ₹25,000 on October 01, 2015. The company charges depreciation @15% p.a. on straight line method. Prepare machinery account and machinery disposal … Read more
6. Azad Ltd. purchased furniture on October 01, 2014 for ₹4,50,000. On March 01, 2015 it purchased another furniture for ₹3,00,000. On July 01, 2016 it sold off the first furniture purchased in 2014 for ₹2,25,000. Depreciation is provided at 15% p.a. on written down value method each year. Accounts are closed each year on … Read more
5. Ganga Ltd. purchased a machinery on January 01, 2014 for ₹5,50,000 and spent ₹50,000 on its installation. On September 01, 2014 it purchased another machine for ₹3,70,000. On May 01, 2015 it purchased another machine for ₹8,40,000 (including installation expenses). Depreciation was provided on machinery @10% p.a. on original cost method annually on December … Read more
4. Berlia Ltd. Purchased a second hand machine for ₹56,000 on July 01, 2015 and spent ₹24,000 on its repair and installation and ₹5,000 for its carriage. On September 01, 2016, it purchased another machine for ₹2,50,000 and spent ₹10,000 on its installation. Depreciation is provided on machinery @10% p.a on original cost method annually … Read more
3. Reliance Ltd. Purchased a second hand machine for ₹56,000 on October 01, 2011 and spent ₹28,000 on its overhaul and installation before putting it to operation. It is expected that the machine can be sold for ₹6,000 at the end of its useful life of 15 years. Moreover an estimated cost of ₹1,000 is … Read more
2. On July 01, 2010, Ashok Ltd. Purchased a Machine for ₹1,08,000 and spent ₹12,000 on its installation. At the time of purchase it was estimated that the effective commercial life of the machine will be 12 years and after 12 years its salvage value will be ₹12,000. Prepare machine account and depreciation Account in … Read more
1. On April 01, 2010, Bajrang Marbles purchased a Machine for ₹2,80,000 and spent ₹10,000 on its carriage and ₹10,000 on its installation. It is estimated that its working life is 10 years and after 10 years its scrap value will be ₹20,000. Prepare Machine account and Depreciation account for the first four years by … Read more