From the following transactions of a firm, prepare Machinery Account for the year ended 31st March, 2022: Purchased second-hand machinery for ₹ 40,000
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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
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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
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On 1st April, 2020, Sanjay purchased machinery for ₹ 40,000 and spent ₹ 5,000 on its installation
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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
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Calculate the amount of annual depreciation and rate of depreciation under Straight Line Method in each of the alternative cases
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Bank Pass Book of Srijan showed an overdraft of ₹ 33,575 on 31st March, 2023, while going through the Bank Pass Book the accountant found the following
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Balance as per Bank Pass Book on 31st March, 2023 overdrawn ₹ 10,000
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From the following particulars, you are required to determine the bank balance as would appear in the Cash Book of Ramesh as on 31st October, 2022
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On checking the Bank Pass Book, it was noticed that it showed an overdraft of ₹ 5,220 as on 31st March, 2023 while as per Ledger it was different from bank balance. The following differences were noted
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