Advertisements
Advertisements
प्रश्न
A firm acquired a machine on 1st April 2015 at a cost of ₹ 50,000. Its life is 6 years. The firm writes off depreciation @ 30% p.a. on the diminishing balance method. The firm closes its books on 31st December every year. Show the machinery account and depreciation account for three years starting from 1st April 2015.
Advertisements
उत्तर
| Date | Particulars | ₹ |
| 01.04.2015 | Machinery purchased | 50,000 |
| 31.12.2015 | Less: Depreciation @ 30% | 11,250 |
| 01.01.2016 | Book value | 38,750 |
| 31.12.2016 | Less: Depreciation @ 30% | 11,625 |
| 01.01.2017 | Book value | 27.125 |
| 31.12.2017 | Less: Depreciation @ 30% | 8,138 |
| 01.01.2018 | Book value | 18,987 |
Machinery A/c
| Dr. | Cr. | ||||||
| Date | Particulars | L.F. | ₹ | Date | Particulars | L.F. | ₹ |
| 01.04.15 | To Bank A/c | 50,000 | 31.12.15 | By Depreciation A/c | 11,250 | ||
| 31.12.15 | By Balance c/d | 38,750 | |||||
| 50,000 | 50,000 | ||||||
| 01.01.16 | To Balance b/d | 38,750 | 31.12.16 | By Depreciation A/c | 11,625 | ||
| 31.12.16 | By Balance c/d | 27,125 | |||||
| 38,750 | 38,750 | ||||||
| 01.01.17 | To Balance b/d | 27,125 | 31.12.17 | By Depreciation A/c | 8,138 | ||
| 31.12.17 | By Balance c/d | 18,987 | |||||
| 27,125 | 27,125 | ||||||
| 01.01.18 | To Balance b/d | 18,987 | |||||
Depreciation A/c
| Dr. | Cr. | ||||||
| Date | Particulars | L.F. | ₹ | Date | Particulars | L.F. | ₹ |
| 31.12.15 | To Machinery A/c | 11,250 | 31.12.15 | By P & L A/c | 11,250 | ||
| 11,250 | 11,250 | ||||||
| 31.12.16 | To Machinery A/c | 11,625 | 31.12.16 | By P & L A/c | 11,625 | ||
| 11,625 | 11,625 | ||||||
| 31.12.17 | To Machinery A/c | 8,138 | 31.12.17 | By P & L A/c | 8,138 | ||
| 8,138 | 8,138 | ||||||
APPEARS IN
संबंधित प्रश्न
Write the word/term/phrase which can substitute the following statement:
The method of depreciation in which the rate of depreciation is fixed but the amount of depreciation reduces every year.
Select the most appropriate answer from the alternatives given below and rewrite the sentence:
Depreciation is charged only on ______ assets.
Complete the following sentence:
In Fixed Instalment System the amount of depreciation is ______ every year.
Complete the following sentence:
Depreciation Account is a ______ account.
Depreciation is to be calculated from the date when ______.
What is the annuity method?
A company purchased a building for ₹ 50,000. The useful life of the building is 10 years and the residual value is ₹ 5,000. Find out the amount and rate of depreciation under the straight-line method.
Machinery was purchased on 1st January 2015 for ₹ 4,00,000. ₹ 15,000 was spent on its erection and ₹ 10,000 on its freight charges. Depreciation is charged at 10% per annum on the straight-line method. The books are closed on 31st March each year. Calculate the amount of depreciation on machinery for the first two years.
Mahesh Traders Solapur purchased Furniture on 1st April 2014 for ₹ 20,000. In the same year on 1st, Oct. additional Furniture was purchased for ₹ 10,000.
On 1st Oct. 2015, the Furniture purchased on 1st April 2014 was sold for ₹ 15,000 and on the same day, a new Furniture was purchased for ₹ 20,000.
The firm charged depreciation at 10% p.a. on the Reducing Balance Method.
Prepare Furniture Account and Depreciation Account for the year ending 31st March 2015, 2016, and 2017.
M/s Omkar Enterprise Jalgaon acquired a Printing Machine for ₹ 75,000 on 1 Oct 2015 and spent ₹ 5,000 on its transport and installation. Another Machine for ₹ 45,000 was purchased on 1st Jan 2017. Depreciation is charged at the rate of 20% on the Written Down Value Method, on 31st March every year.
Prepare Printing Machine Account for the first four years.
