Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A firm purchased on 1st April, 2021, a second-hand Machinery for ₹ 3,20,000 and spent ₹ 40,000 on its installation. However, it started functioning on 1st June, 2021 3 viewsAnurag Pathak Changed status to publish 7 minutes agoDK Goel Depreciation 0 Votes 1 Ans A Company purchased a second-hand machine on 1st April, 2022, for ₹ 30,000 and immediately spent ₹ 4,000 on its repair and ₹ 1,000 on its installation 4 viewsAnurag Pathak Answered question 2 hours agoDK Goel Depreciation 0 Votes 1 Ans A plant is purchased for ₹ 2,70,000 on 1st April, 2021. Installation charges paid on the plant is ₹ 30,000. It is estimated that the residual value of this plant at the end 4 viewsAnurag Pathak Answered question 2 hours agoDK Goel Depreciation 0 Votes 1 Ans From the following transactions of a concern, prepare Machinery Account for the year ending 31st March, 2023 4 viewsAnurag Pathak Answered question 3 hours agoDK Goel Depreciation 0 Votes 1 Ans On 1st April, 2020, Plant and Machinery was purchased for ₹ 1,20,000. New machinery was purchased on 1st Oct., 2020, for ₹ 50,000 and on 1st July, 2021, for ₹ 25,000 14 viewsAnurag Pathak Changed status to publish 3 hours agoDK Goel Depreciation 0 Votes 1 Ans On 1st October, 2016, Raj & Co. purchased machinery worth ₹ 40,000. On 1st October, 2018, it buys additional machinery worth ₹ 10,000 38 viewsAnurag Pathak Answered question 12 hours agoDK Goel Depreciation 0 Votes 1 Ans Bhushan & Company purchased a Machinery on 1st April, 2019, for ₹ 54,000 and spent ₹ 6,000 on its installation. On 1st December, 2020, it purchased another machine for ₹ 30,000. 38 viewsAnurag Pathak Answered question 12 hours agoDK Goel Depreciation 0 Votes 1 Ans Abhinandan Ltd. bought a machinery on 1st August, 2017, costing ₹ 90,000. It purchased further machinery on 1st December, 2017 costing ₹ 60,000 and on 1st October, 2018 it bought machine costing ₹ 40,000 30 viewsAnurag Pathak Answered question 12 hours agoDK Goel Depreciation 0 Votes 1 Ans On 1st January, 2020, A Ltd. Purchased a machine for ₹ 2,40,000 and spent ₹ 10,000 on its erection. On 1st July, 2020 an additional machinery costing ₹ 1,00,000 was purchased 34 viewsAnurag Pathak Answered question 12 hours agoDK Goel Depreciation 0 Votes 1 Ans A Ltd. purchased a machine for ₹ 5,00,000 on 1st April, 2022. Further addition were made on 1st October 2022 and on 1st July 2023 for ₹ 4,00,000 and ₹ 3,00,000 respectively. 32 viewsAnurag Pathak Answered question 13 hours agoDK Goel Depreciation 0 Votes 1 Ans Chandra Ltd. purchased a second-hand machine for ₹ 2,68,000 plus CGST and SGST @ 6% each on 1st July, 2021. They spent ₹ 32,000 on its overhaul and installation 30 viewsAnurag Pathak Answered question 13 hours agoDK Goel Depreciation 0 Votes 1 Ans On 1st April, 2021, a limited company purchased a Machine for ₹ 9,80,000 and spent ₹ 20,000 on its installation. At the date of purchase, it was estimated that the scrap value of the machine would be ₹ 40,000 at the end of the eighth year. 24 viewsAnurag Pathak Answered question 13 hours agoDK Goel Depreciation 0 Votes 1 Ans A and B share the profits of a business in the ratio of 5 : 3. They admit C into the firm for a 1/4th share in the profits to be contributed equally by A and B 182 viewsAnurag Pathak Changed status to publish December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners in a firm sharing profits and losses as 5 : 3. The position of the firm as at 31st March, 2022 was as follows: 169 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans Rohit and Bal sharing profits in the ratio of 5 : 3 has the following Balance Sheet as at March 31, 2022: 166 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners in a firm. Their Balance Sheet as at 31st March, 2022 was as follows: Capital: A ₹ 50,000 B ₹ 60,000 165 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans The Balance Sheet of A and B as at 31st March, 2022 is given below: A’s Capital ₹ 60,000 B’s Capital ₹ 30,000 171 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners sharing profits and losses in the ratio of 3 : 2. On April 1, 2022, their Balance Sheet was as follows: 178 viewsAnurag Pathak Changed status to publish December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans A and B were partners with fixed capitals of ₹ 3,70,000 each. They admitted C as a new partner for 1/4th share of profits. C brought ₹ 3,00,000 as his capital and the necessary amount of goodwill premium for his share of goodwill 185 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans A, B and C were partners in a firm sharing profits in the ratio of 2 : 1 : 2. Their respective fixed capitals were A ₹ 7,00,000; B ₹ 4,50,000 and C ₹ 6,00,000 187 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans David and Bimal are partners sharing profits and losses in the ratio of 3 : 2. Their Balance Sheet as at 31st March 2023, was as follows: 169 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans Leena and Rohit are partners in a firm sharing profits in the ratio of 3 : 2. On 31st March, 2018, their Balance Sheet was as follows: 152 viewsAnurag Pathak Changed status to publish December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans On 31st March, 2019 the Balance Sheet of Madan and Mohan who share profits and losses in the ratio of 3 : 2 was as follows: 201 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans Pappu and Dhanraj were partners in a firm sharing profits in the ratio of 3 : 1. Their Balance Sheet as at 31.3.2023 was as follows: 158 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 0 Votes 1 Ans A and B are partners in a firm sharing profit and losses in the ratio of 3 : 1. On 1st April, 2022 their position was as given below: 169 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 1 2 … 175 176 Question and answer is powered by anspress.net
