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
Solution:-
Commerce School
Student Community
Archives Answers
Answer
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
Solution:-
Gurman & Co. purchased machinery for ₹ 40,000 on 1st October, 2020. Depreciation is provided @ 10% p.a. on the Diminishing Balance
Solution:-
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
Solution:-
A company purchased a machine for ₹ 50,000 on 1st October, 2020. Another machine costing ₹ 10,000 was purchased on 1st December, 2021
Solution:-
Shyam purchased on 1st April, 2021, a machine for ₹ 6,000. On 1st October, 2021, he purchased another machine for ₹ 5,000
Solution:-
The original cost of furniture amounted to ₹ 4,000 and it is decided to write off 5% on the original cost as Depreciation at the end of each year
Solution:-
A boiler was purchased from abroad for ₹ 10,000. Shipping and forwarding charges ₹ 2,000, Import duty, ₹ 7,000 and expenses of installation amounted to ₹ 1,000
Solution:-
Following balances appear in the books of Priyank Brothers:
Solution:-
Following balances appear in the Book of Paras Bros
Solution:-