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Category Depreciation

Depreciation 57 Questions

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M/s Sharad Bros. purchased machinery on 1st April, 2019 for ₹ 50,000. On 1st October, 2020, additions were made of ₹ 10,000

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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

1.77K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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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

1.26K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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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

1.82K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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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

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

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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

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

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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

1.20K 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

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Following balances appear in the books of Kaushal Traders as on 1st April, 2022:

2.63K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

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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

3.14K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

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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

2.86K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS 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

3.04K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS 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

2.58K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

0 Votes 1 Ans

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

2.88K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

0 Votes 1 Ans

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

2.52K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

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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

1.75K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

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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

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0 Votes 1 Ans

Following balances appear in the books of Priyank Brothers:

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Following balances appear in the Book of Paras Bros

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On 1st July, 2019, OM Ltd. purchases second-hand machinery for ₹ 20,000 and spends ₹ 3,000 on reconditioning and installing it. On 1st January 2020, the firm purchases new machinery worth ₹ 12,000.

3.31K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

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On 1st April, 2010, Plant and Machinery was purchased for ₹ 1,20,000. New Machinery was purchased on 1st October, 2010 for ₹ 50,000 and on 1st July, 2011, for ₹ 25,000

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0 Votes 1 Ans

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

3.18K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

0 Votes 1 Ans

A Van was purchased on 1st April, 2020 for ₹ 60,000 and ₹ 5,000 was spent on its repair and registration. On 1st October, 2021 another Van was purchased for ₹ 70,000

2.92K viewsAnurag Pathak Changed status to publish September 27, 2023Depreciation TS Grewal Class 11

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