Question No 38 Chapter No 12 38. On April 01, 2016, Jain & Sons purchased a second-hand plant costing 2,00,000 and spent 10,000 on its overhauling. It also spent 5,000 on transportation and installation of the plant. It was decided Read More …
Question No 37 Chapter No 12 37. A Limited purchased a machine on 1st July 2017 for 3,00,000 and on 1st January 2019 bought another machinery for 2,00,000. On 1st August 2019 machine bought in 2017 was sold for 1,60,000. Read More …
Question No 36 Chapter No 12 36. A limited company purchased on 01-01-2017 a plant for 38,000 and spent 2,000 for carriage and brokerage. On 01-04-2018 it purchased additional plant costing 20,000. On 01-08-2019 the plant purchased on 01-01-2017 was Read More …
Question No 35 Chapter No 12 35. The following balances appear in the books of M/s Amrit: 1st April 2018 Machinery A/c 60,000 1st April 2018 Provision for depreciation A/c 36,000 On 1st April 2018, they decided to dispose of Read More …
Question No 34 Chapter No 12 34. On 1st Jan. 2017, Panjim Dryfruits Ltd. bought a plant for 15,00,000. The company writes off depreciation @ 20% p.a. on Written Down Value Method and closes its books on 31st March every Read More …
Question No 33 Chapter No 12 33. On 1st June, 2017, Kedarnath Ltd. purchased a machinery for 27,00,000. Depreciation is provided @ 10% p.a. on diminishing balance method and the books are closed on 31st March each year. On 1st Read More …
Question No 32 Chapter No 12 32. On 1st September 2016, Gopal Ltd. purchased a plant for 10,20,000. On 1st July 2017 another plant was purchased for 6,00,000. The firm writes off depreciation @ 10% p.a. on original cost and Read More …
Question No 31 Chapter No 12 31.On 1st July 2017, X Ltd. purchased machinery for 15,00,000. Depreciation is provided @ 20% p.a. on the original cost of the machinery and books are closed on 31st March each year. On 31st Read More …
Question No 30 Chapter No 12 30.Books of Mumbai Chemicals Ltd. showed the following balances on 1st April 2019: Machinery Account 10,00,000 Provision for Depreciation on Furniture Account 4,05,000 On 1st April, 2019, a machine which had a cost of Read More …
Question No 29 Chapter No 12 29.On 1st April, 2018, following balances appeared in the books of M/s Krishna Traders: Furniture Account 50,000 Provision for Depreciation on Furniture Account 22,000 On 1st October 2018, a part of Furniture purchased for Read More …