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CBSE Class 11-commerce Answered

On January 01, 2014 Ash Computer Co. purchased 3 Computer for Rs.25,000 each. Depreciation has been provided at the rate of 10% p.a. under Straight Line Method and accumulated in provision for depreciation account. On January 01, 2015 one Computer was sold for Rs.12,000. On July 01, 2016 another Computer (purchased for Rs.25,000 on Jan 01, 2014) was sold for Rs.14,000. A new Computer costing Rs.35,000 was purchased on October 01, 2016. You are required to prepare Computer Account, Provision for Depreciation Account and Computer Disposal Account for the years ended on December 2014, 2015 and 2016 assuming that the firm closes its accounts in December every year.
Asked by Topperlearning User | 04 Aug, 2016, 01:26: PM
answered-by-expert Expert Answer

 

 

 

 

 

 

 

 

Books of Ash Computer Co.

Computer Account 

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount

Rs. 

Date

Particulars

J.F.

Amount

Rs. 

2014

 

 

 

2014

 

 

 

Jan 1

To Bank A/c

 

75,000

Dec 31

By Balance c/d

 

75,000

 

 

 

75,000

 

 

 

75,000

2015

 

 

 

2015

 

 

 

Jan 1

To Balance b/d

 

75,000

Jan 1

By Computer Disposal A/c

 

25,000

 

 

 

 

Dec 31

By Balance c/d

 

50,000

 

 

 

75,000

 

 

 

75,000

2016

 

 

 

2016

 

 

 

Jan 1

To Balance b/d

 

50,000 

July 1

By Computer Disposal A/c

 

15,000

Oct 1

To Bank A/c

 

35,000

Dec 31

By Balance c/d

 

70,000

 

 

 

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 ANSWERED BY EXPERT