CBSE Class 11-commerce Answered
On January 01, 2010
Raj and Son’s purchased a second hand machinery costing Rs.3,00,000 and spent 20,000 on its overhauling. It also spent
10,000 on transportation and installation of the machinery. It was decided to
provide for depreciation @ of 10% on Written Down Value Method. The machinery
was destroyed by the fire on July 31, 2013 and an insurance claim of 80,000
was admitted by the insurance company.
Prepare Machinery Account, Accumulated
Depreciation Account and Machinery Disposal Account assuming that the company
closes its books on December 31 every year.
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
Expert Answer
Books of Raj and Son’s Machinery Account |
|||||||
Dr. |
|
|
|
|
|
|
Cr. |
Date |
Particulars |
J.F. |
Amount Rs. |
Date |
Particulars |
J.F. |
Amount Rs. |
2010 |
|
|
|
2010 |
|
|
|
Jan 1 |
To Bank A/c |
|
3,30,000 |
Dec 31 |
By Balance c/d |
|
3,30,000 |
|
|
|
3,30,000 |
|
|
|
3,30,000 |
2011 |
|
|
|
2011 |
|
|
|
Jan 1 |
To Balance b/d |
|
3,30,000 |
Dec 31 |
By Balance c/d |
|
3,30,000 |
|
|
|
3,30,000 |
|
|
|
3,30,000 |
2012 |
|
|
|
2012 |
|
|
|
Jan 1 |
To Balance b/d |
|
3,30,000 |
Dec 31 |
By Balance c/d |
|
3,30,000 |
|
|
|
3,30,000 |
|
|
|
3,30,000 |
2013 |
|
|
|
2013 |
|
|
|
Jan 1 |
To Balance b/d |
|
3,30,000 |
Dec 31 |
Answered by | 04 Aug, 2016, 03:26: PM
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 01 Jul, 2016, 03:14: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 01 Jul, 2016, 03:14: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
CBSE 11-commerce - Accountancy Part I
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
ANSWERED BY EXPERT
|