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Category Depreciation

Depreciation 57 Questions

0 Votes 1 Ans

On 1st April, 2019, Gurman Toys purchased a machine for ₹ 2,40,000 and spent ₹ 10,000 on its erection. On 1st October, 2019, an additional machinery costing ₹ 1,00,000 was purchased

3.59K viewsAnurag Pathak Changed status to publish March 18, 2024Depreciation TS Grewal Class 11

0 Votes 1 Ans

Kabir bought a machine for ₹ 25,000 on which he spent ₹ 5,000 for carriage and freight, ₹ 1,000 for brogerage of the middleman, ₹ 3,500 for installation and ₹ 500 for an iron pad

1.95K viewsAnurag Pathak Changed status to publish December 11, 2023Depreciation TS Grewal Class 11

0 Votes 1 Ans

On 1st January, 2023, A sold goods to B for ₹ 10,000. A drew on B a bill for the amount payable 3 months after date. The bill was duly accepted by B

1.26K viewsAnurag Pathak Changed status to publish October 25, 2023Depreciation

0 Votes 1 Ans

On 1st April, 2020, Amit Kumar purchased five machines for ₹ 60,000 each. Depreciation @ 10% p.a. on initial cost has been charged from the Profit & Loss Account and credited to Provision for Depreciation Account

1.21K viewsAnurag Pathak Changed status to publish October 25, 2023Depreciation

0 Votes 1 Ans

Sharma & Co. whose books are closed on 31st March, purchased machinery for ₹ 1,50,000 on 1st April, 2020, additional machinery was acquired for ₹ 50,000 on 1st October, 2020

1.99K viewsAnurag Pathak Changed status to publish October 25, 2023Depreciation

0 Votes 1 Ans

Following balances exist in the books of Amrit as on 1st April, 2022 Machinery A/c 60,000 Provision for Depreciation A/c 36,000

1.18K viewsAnurag Pathak Changed status to publish October 25, 2023Depreciation

0 Votes 1 Ans

On 1st June, 2019 Popular Ltd. purchased a plant for ₹ 9,00,000. On 1st December, 2021, a part of the plant purchased on 1st June, 2019 for ₹ 1,50,000 was sold for ₹ 60,000

1.93K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

The following balances appear in the books of Satish Bros. on 1st April, 2022 Machinery Account ₹ 1,00,000 Accumulated Depreciation Account ₹ 36,000

1.72K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

You are given following balances as on 1st April, 2022 Machinery Account ₹ 12,50,000 Provision for Depreciation Account ₹ 2,90,000

2.18K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

The following information relates to Tit-Bit & Company’s Machinery Account Balance of Machinery Account as on 1st April, 2022 6,00,000

1.79K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

A company whose accounting year is the financial year, purchased on 1st July, 2020 machinery costing ₹ 30,000

1.43K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

M/s P & Q purchased machinery for ₹ 40,000 on 1st October, 2020. Depreciation is provided @ 10% p.a. on the diminishing balance

1.52K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

Astha Engineering Works purchased a machine on 1st July, 2019 for ₹ 1,80,000 and spent ₹ 20,000 on its installation

1.36K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

A company purchased machinery for ₹ 50,000 on 1st October, 2020. Another machine costing ₹ 10,000 was purchased on 1st December, 2021

1.60K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

A Ltd. purchased the following machines On 1st April, 2020 ₹ 40,000 On 1st October, 2020 ₹ 20,000 On 1st January, 2021 ₹ 10,000

1.58K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

X bought a machine for ₹ 25,000 on which he spent ₹ 5,000 for carriage and freight, ₹ 1,000 for brokerage of the middleman, ₹ 3,500 for installation and ₹ 500 for an iron pad

1.66K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

A firm whose books are closed on 31st March each year, purchased a machinery for ₹ 50,000 on 1st April, 2019. Additional machinery was acquired for ₹ 10,000 on 1st October, 2020

1.63K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

Babu purchased on 1st April, 2021, a machine for ₹ 6,000. On 1st October, 2021, he also purchased another machine for ₹ 5,000

1.64K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

Neena Textile Mills purchased on 1st January, 2021 a plant for ₹ 8,00,000. The firm charges depreciation @ 15% p.a. according to written Down Value Method

1.37K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

A boiler was purchased from abroad for ₹ 10,000. Shipping and forwarding charges ₹ 2,000, Customs Duty ₹ 7,000 and expenses of installation amounted to ₹ 1,000

795 viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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

1.54K 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

1.64K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

Following balances exist in the books of Rama Bros.

1.02K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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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

1.62K 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

1.19K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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