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...

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...

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...

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...

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...

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...

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...

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

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...

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...

11. Saraswati Ltd. purchased a machinery costing ₹10,00,000 on January 01, 2011. A new machinery was purchased on 01 May, 2012 for ₹15,00,000 and another on July 01, 2014 for ₹12,00,000. A part of the machinery which originally cost ₹2,00,000 in 2011 was sold for ₹75,000 on April 30, 2014....

12. On July 01, 2011 Ashwani purchased a machine for ₹2,00,000 on credit. Installation expenses ₹25,000 are paid by cheque. The estimated life is 5 years and its scrap value after 5 years will be ₹20,000. Depreciation is to be charged on straight line basis. Show the journal entry for...

13. On October 01, 2010, a Truck was purchased for ₹8,00,000 by Laxmi Transport Ltd. Depreciation was provided at 15% p.a. on the diminishing balance basis on this truck. On December 31, 2013 this Truck was sold for ₹5,00,000. Accounts are closed on 31st March every year. Prepare a Truck...

14. Kapil Ltd. purchased a machinery on July 01, 2011 for ₹3,50,000. It purchased two additional machines, on April 01, 2012 costing ₹1,50,000 and on October 01, 2012 costing ₹1,00,000. Depreciation is provided @10% p.a. on straight line basis. On January 01, 2013, first machinery become useless due to technical...

15. On January 01, 2011, Satkar Transport Ltd., purchased 3 buses for ₹10,00,000 each. On July 01, 2013, one bus was involved in an accident and was completely destroyed and ₹7,00,000 were received from the Insurance Company in full settlement. Depreciation is written off @15% p.a. on diminishing balance method....

16. On October 01, 2011 Juneja Transport Company purchased 2 Trucks for ₹ 10,00,000 each. On July 01, 2013, One Truck was involved in an accident and was completely destroyed and ₹6,00,000 were received from the insurance company in full settlement. On December 31, 2013 another truck was involved in...

17. A Noida based Construction Company owns 5 cranes and the value of this asset in its books on April 01, 2017 is ₹40,00,000. On October 01, 2017 it sold one of its cranes whose value was ₹5,00,000 on April 01, 2017 at a 10% profit. On the same day...

18. Shri Krishan Manufacturing Company purchased 10 machines for ₹75,000 each on July 01, 2014. On October 01, 2016, one of the machines got destroyed by fire and an insurance claim of ₹45,000 was admitted by the company. On the same date another machine is purchased by the company for...

19. On January 01, 2014, a Limited Company purchased machinery for ₹20,00,000. Depreciation is provided @15% p.a. on diminishing balance method. On March 01, 2016, one fourth of machinery was damaged by fire and ₹40,000 were received from the insurance company in full settlement. On September 01, 2016 another machinery...

20. A Plant was purchased on 1st July, 2015 at a cost of ₹3,00,000 and ₹50,000 were spent on its installation. The depreciation is written off at 15% p.a. on the straight line method. The plant was sold for ₹1,50,000 on October 01, 2017 and on the same date a...