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Question 30 Chapter 1 of +2-Part-1
30. (Depreciation) Calculate the amount of depreciation to be charged to the Income and Expenditure Account for the year 2015.
| Particulars | As on 1.1.2015 | As on 31.12.2015 |
| Office Equipment | - | 90,000 |
Purchase of office equipment during the year Rs.22,000. Sale of office equipment during the year Rs.16,500.
Interest to be credited to Income and Expenditure account
| Particulars |
Amount | |
|---|---|---|
| Office Equipment as on 1st January 2015 | 42,000 | |
| Add: Office Equipment purchased during the year 2015 | 22,000 | |
| 64,000 | ||
| Less: Office Equipment sold during the year | 16,500 | |
| Closing Stock as on 31 Dec. 2015 | 38,000 | (54,500) |
| Sports Fund balance as on 31-3-2015 | 9,500 | |
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Accounting & Commerce Educator
Sarbjit Singh holds a B.Com and M.Com degree and has over 12 years of teaching experience in double entry bookkeeping, financial accounting, and business studies.
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