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Category TS Grewal Class 11

TS Grewal Class 11 243 Questions

15 Sub Categories

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

1.37K 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

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

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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

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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

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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

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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

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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

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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

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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

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0 Votes 1 Ans

Following balances exist in the books of Rama Bros.

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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 purchased a second-hand machine on 1st April, 2019 and paid ₹ 1,40,000 for it. It spent on its overhauling and installation ₹ 20,000

1.69K viewsAnurag Pathak Changed status to publish October 24, 2023BRS

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

1.20K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

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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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0 Votes 1 Ans

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

1.78K viewsAnurag Pathak Changed status to publish October 24, 2023Depreciation

0 Votes 1 Ans

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

0 Votes 1 Ans

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

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0 Votes 1 Ans

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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0 Votes 1 Ans

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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0 Votes 1 Ans

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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0 Votes 1 Ans

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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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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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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