CBSE Class 11-commerce Answered
On January 01 2014, Dada Transport Co. purchased 3 trucks for Rs.15,000 each. Depreciation has been provided at the rate of 5% p.a.
using straight line method and accumulated in provision for depreciation
account. On January 01, 2015 one truck was sold for Rs.10,000. On July 01, 2016 another truck (purchased for Rs.15,000 on Jan 01, 2014) was sold for Rs.12,000. A new truck costing Rs.25,000 was purchased on
October 01, 2016.
You are required to prepare Trucks Account, Provision
for Depreciation Account and Truck Disposal Account for the year 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
Expert Answer
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Books of Dada Transport Co. Truck Account |
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Dr. |
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Cr. |
Date |
Particulars |
J.F. |
Amount Rs. |
Date |
Particulars |
J.F. |
Amount Rs. |
2014 |
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2014 |
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Jan 1 |
To Bank A/c |
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45,000 |
Dec 31 |
By Balance c/d |
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45,000 |
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45,000 |
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45,000 |
2015 |
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2015 |
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Jan 1 |
To Balance b/d |
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45,000 |
Jan 1 |
By Truck Disposal A/c |
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15,000 |
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Dec 31 |
By Balance c/d |
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30,000 |
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30,000 |
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|
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30,000 |
2016 |
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2016 |
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Jan 1 |
To Balance b/d |
|
30,000 |
July 1 |
By Truck Disposal A/c |
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15,000 |
Oct 1 |
To Bank A/c |
|
25,000 |
Dec 31 |
By Balance c/d |
|
40,000 |
|
|
|
55,000 |
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
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
|