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Home / Doubts and Solutions/CBSE/Class 12 Commerce/Accountancy

limited purchased from Star Ltd computers of rupees 300000 and software of rupees 5 lakh table rupees 80000 by check and balance by issue of 7% debentures of rupees 100 each at a discount of 10% the company has balance in security premium reserve of rs 40000 and in capital reserves of rupees 25000 entries in the books of lemon limited

Asked by rjruchikajain25 5th January 2023, 4:16 PM
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A Company purchased a machine costing ? 60,000 on 30th June, 2017. It further purchased machinery costing 40,000 on 1 April, 2018. It purchased another machine of 30,000 on 30th June, 2018. On 1.4.2019 the company sold 1/5th of the machinery (purchased on 30.6.2017) at ? 2000 and 2/3rds of the machiner purchased on 1 April, 2018 was sold for 10,000. Rate of depreciation is 10% p.a. under diminishin balance method. Company closes its accounts on 31* March every year. Prepare necessary ledger accounts for the period from 1.4.2017 to 31.3.2020.
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31st January 2022, 2:23 PM
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