Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans A Company, which closes its books on 31st March every year, purchased on 1st July, 2017, machinery costing ₹ 30,000. It purchased further machinery on 1st January, 2018, costing ₹ 20,000 39 viewsAnurag Pathak Answered question 11 hours agoDK Goel Depreciation 0 Votes 1 Ans Raja Textiles Co. which closes its books on 31st March, purchased a machine on 1-4-2016 for ₹ 50,000. On 1-10-2017, it purchased an additional machine for ₹ 30,000 35 viewsAnurag Pathak Answered question 11 hours agoDK Goel Depreciation 0 Votes 1 Ans The Sameer Transport Company purchased 10 Trucks at ₹ 90,000 each on 1st April 2019. On 1st October 2021 one of the Trucks was involved in an accident and is completely destroyed 44 viewsAnurag Pathak Answered question 12 hours agoDK Goel Depreciation 0 Votes 1 Ans On April 01, 2019 Jain & Sons purchased a second hand plant costing ₹ 2,00,000 and spent ₹ 10,000 on its overhauling. He also spent ₹ 5,000 on transportation and installation of the plant. 43 viewsAnurag Pathak Answered question 1 day agoDK Goel Depreciation 0 Votes 1 Ans A limited company purchased on 01-01-2022 a plant for ₹ 38,000 and spent ₹ 2,000 for carriage and brokerage. On 01-04-2023 it purchased additional plant costing ₹ 20,000 61 viewsAnurag Pathak Answered question 1 day agoDK Goel Depreciation 0 Votes 1 Ans Ashoka Ltd. bought a machine on 1st April, 2020 for ₹ 2,40,000 and spent ₹ 4,000 on its carriage and ₹ 6,000 towards installation cost 45 viewsAnurag Pathak Answered question 1 day agoDK Goel Depreciation 0 Votes 1 Ans A Company purchased a machinery for ₹ 50,000 on 1st Oct., 2016. Another machinery costing ₹ 10,000 was purchased on 1st Dec., 2017. On 31st March, 2019, the machinery purchased in 2016 was sold at a loss of ₹ 5,000 51 viewsAnurag Pathak Answered question 1 day agoDK Goel Depreciation 0 Votes 1 Ans Urja industries Ltd. purchased on 1st January, 2016, a machinery for ₹ 1,60,000. On 1st April, 2017, it purchased additional machinery costing ₹ 96,000 49 viewsAnurag Pathak Answered question 1 day agoDK Goel Depreciation 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 59 viewsAnurag Pathak Changed status to publish 1 day 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 42 viewsAnurag Pathak Answered question 1 day 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 45 viewsAnurag Pathak Answered question 1 day agoDK Goel Depreciation 0 Votes 1 Ans From the following transactions of a concern, prepare Machinery Account for the year ending 31st March, 2023 51 viewsAnurag Pathak Answered question 2 days 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 55 viewsAnurag Pathak Changed status to publish 2 days 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 67 viewsAnurag Pathak Answered question 2 days 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. 73 viewsAnurag Pathak Answered question 2 days 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 67 viewsAnurag Pathak Answered question 2 days 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 64 viewsAnurag Pathak Answered question 2 days 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. 65 viewsAnurag Pathak Answered question 2 days 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 60 viewsAnurag Pathak Answered question 2 days 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. 58 viewsAnurag Pathak Answered question 2 days 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 203 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: 182 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: 182 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 ₹ 60,000 170 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 ₹ 30,000 178 viewsAnurag Pathak Answered question December 4, 2025DK Goel Admission of a Partner 1 2 … 176 177 Question and answer is powered by anspress.net
