Ask question Search Order By: ActiveCategory: DepreciationClear Filter 0 Votes 1 Ans A Ltd. has the following balances on 1st April, 2022 Machinery Account 2,00,000 Provision for Depreciation Account 90,000 1.09K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans The following balances exist in the books of X Ltd. Machinery Account 5,00,000 Provision for Depreciation Account 2,25,000 1.05K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans Following balances exist in the books of Rama Bros. 569 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans On 1st April, 2021, Machinery Account of Karan shows a balance of ₹ 96,000 (original cost ₹ 1,20,000). On 1st August, 2021, a machine for ₹ 60,000 was purchased and ₹ 9,000 were incurred for its freight and installation 986 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans A firm whose accounting year is a financial year, purchased on 1st July, 2019 machinery for ₹ 30,000. It further purchased machinery on 1st January, 2020 for ₹ 20,000 and on 1st October, 2020 for ₹ 10,000 724 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans M/s Sharad Bros. purchased machinery on 1st April, 2019 for ₹ 50,000. On 1st October, 2020, additions were made of ₹ 10,000 1.01K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans Muskan Traders purchased four machines of ₹ 25,000 each on 1st July, 2019. On 30th September, 2020, the firm sold one of the machine purchased on 1st July, 2019 at a lost of ₹ 2,500 1.10K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans A Van was purchased on 1st April, 2019 for ₹ 60,000 and ₹ 5,000 were spent on its repair and registration. On 1st October, 2020, another van was purchased for ₹ 70,000 782 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans On 1st April, 2019, Bhushan purchased a machine for ₹ 2,40,000 and spent ₹ 10,000 on its installation. On 1st October, 2019, another machinery costing ₹ 1,00,000 was purchased 1.06K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans From the following transactions of a firm, prepare Machinery Account for the year ended 31st March, 2022: Purchased second-hand machinery for ₹ 40,000 577 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans 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 ₹ 5,000 488 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans On 1st April, 2018, Rupa & Co. Purchased a machinery for ₹ 3,00,000 and incurred ₹ 21,000 as freight and insurance, ₹ 3,000 as carriage inwards and ₹ 6,000 as installation charges 848 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans On 1st April, 2020, Sanjay purchased machinery for ₹ 40,000 and spent ₹ 5,000 on its installation 688 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans Shiv & Co. purchased machinery for ₹ 21,000 on 1st April, 2019. The estimated useful life of the machinery is 10 years, after which its realisable value will be ₹ 1,000 690 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans Calculate the amount of annual depreciation and rate of depreciation under Straight Line Method in each of the alternative cases 767 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation 0 Votes 1 Ans Following balances appear in the books of Kaushal Traders as on 1st April, 2022: 1.81K viewsAnurag Pathak Changed status to publish September 27, 2023DepreciationTS Grewal Class 11 0 Votes 1 Ans Bharat Stores purchased on 1st July, 2020 machinery costing ₹ 30,000. It further purchased machinery on 1st January, 2021 costing ₹ 20,000 and on 1st October, 2021 costing ₹ 10,000 1.99K viewsAnurag Pathak Changed status to publish September 27, 2023DepreciationTS Grewal Class 11 0 Votes 1 Ans On 1st October, 2020, Rahul Traders purchased a machine for ₹ 25,000 on which he spent ₹ 5,000 for carriage and freight; ₹ 1,000 for brokerage of the middle-man, ₹ 4,000 for installation 2.05K viewsAnurag Pathak Changed status to publish September 27, 2023DepreciationTS Grewal Class 11 0 Votes 1 Ans Gurman & Co. purchased machinery for ₹ 40,000 on 1st October, 2020. Depreciation is provided @ 10% p.a. on the Diminishing Balance 2.02K viewsAnurag Pathak Changed status to publish September 27, 2023DepreciationTS Grewal Class 11 0 Votes 1 Ans On 1st April, 2020, a machinery was purchased for ₹ 20,000. On 1st October, 2021, another machine was purchased for ₹ 10,000 and on 1st April, 2022, one more machine was purchased for ₹ 5,000 1.76K viewsAnurag Pathak Changed status to publish September 27, 2023DepreciationTS Grewal Class 11 « Previous 1 2 3 Next » Question and answer is powered by anspress.net