Question No 35 Chapter No 14 35. On 1st April 2015, Amit Kumar purchased five machines for ₹ 60,000 each. Depreciation @ 10% p.a. on initial cost has been changed from the Profit and Loss Account and credited to Provision Read More …
Question No 34 Chapter No 14 34. Sharma & Co. whose books are closed on 31st March purchased a piece of machinery for ₹ 1,50,000 on 1st April 2015, Additional machinery was acquired for ₹ 50,000 on 1st October 2015. Read More …
Question No 33 Chapter No 14 33. On 1st October 2011, X Ltd. purchased machinery for ₹ 2,50,000. A part of the machinery which was purchased for ₹ 20,000 on 1st October 2011 became obsolete and was disposed of on Read More …
Question No 32 Chapter No 14 32. Following balances appear in the books of M/s. Amrit as on 1st April 2017: 2017 Rs 1srt April Machinery A/c 60,000 Provision for Depreciation A/c 36,000 On 1st April 2017, they Read More …
Question No 31 Chapter No 14 31. Shakti Cements purchased on 1st April, 2015 a plant for ₹ 80,000. On 1st July, 2016, it purchased additional plant costing ₹ 48,000. On 1st December, 2017, the plant purchased on 1st April, Read More …
Question No 30 Chapter No 14 30. A firm purchased on 1st April 2015 certain machinery for ₹ 5,82,000 and spent ₹ 18,000 on its installation. On 1st October 2015, additional machinery costing ₹ 2,00,000 was purchased. On 1st October Read More …
Question No 29 Chapter No 14 29. Astha Engineering Works purchased a machine on 1st July 2015 for ₹ 1,80,000 and spent ₹ 20,000 on its installation.On 1st April 2016, if purchased another machine for ₹ 2,40,000. On 1st October Read More …
Question No 28 Chapter No 14 28. On 1st October 2010, Meenal Sharma bought a machine for ₹ 25,000 on which he spent ₹ 5,000 for carriage and freight; ₹ 1,000 for the brokerage of the middle-man, ₹ 4,000 for Read More …
Question No 27 Chapter No 14 27. A company purchased on 1st July 2015 machinery costing ₹ 30,000. It further purchased machinery on 1st January 2016 costing ₹ 20,000 and on 1st October 2016 costing ₹ 10,000. On 1st April Read More …
Question No 26 Chapter No 14 26.M/s. P & Q purchased machinery for ₹ 40,000 on 1st October 2015. Depreciation is provided @ 10% p.a. on the Diminishing Balance. On 31st January 2018, one-fourth of the machinery was found unsuitable Read More …