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On 1st April, 2018, Ajay Bros. purchased office furniture for ₹ 55,000. It is estimated to have useful life of 10 years at the end of which it can be sold for ₹ 5,000. Additions were made on 1st April, 2020 and 1st October, 2022 costing ₹ 9,500 and ₹ 8,400 (Residual values ₹ 500 and ₹ 400 respectively).

Prepare Furniture Account for the first four years ended 31st March, if depreciation is written off according to the Straight Line Method.

Anurag Pathak Changed status to publish October 24, 2023
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