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
Solution:-
Commerce School
Student Community
Archives Answers
Answer
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
Solution:-
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.
Solution:-
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
Solution:-
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.
Solution:-
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
Solution:-
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:
Solution:-
Rohit and Bal sharing profits in the ratio of 5 : 3 has the following Balance Sheet as at March 31, 2022:
Solution:-
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
Solution:-
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
Solution:-