Question 31 Chapter 1 of +2 Part-1 – USHA Publication 12 Class Part – 1

Question 31 Chapter 1 of +2-Part-1

31. (Depreciation/GST) From the following information calculate the amount of depreciation to be charged to Income and Expenditure Account for 31-3-2015.

Furniture purchased on the last date of the year Rs.20,000 from another state. IGST applicable on this purchase is 12%.

The solution of Question 31 Chapter 1 of +2 Part-1 : – 

Working Note:

1. Entry for purchase of furniture purchased from outside state is :

As furniture purchased on the last date of the year. Hence, the amount of input IGST will be shown and Current Asset in the Balance Sheet and Furniture will be debited only with the cost.

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Also, Check out the solved question of previous Chapters: –

Usha Publication – Accountancy PSEB (Class 12) – Volume I – Solution

• Chapter No. 1 – Accounting Not for Profit Organisations
• Chapter No. 2 – Partnership Accounts – I (Introduction)
• Chapter No. 3 – Partnership Accounts – II (Goodwill: Nature and Valuation)
• Chapter No. 4 – Partnership Accounts – III (Reconstitution of Partnership)
• Chapter No. 5 – Partnership Accounts – IV (Admission of A Partner)
• Chapter No. 6 – Partnership Accounts – V (Retirement and Death of A Partner)
• Chapter No. 7 – Partnership Accounts – VI (Dissolution of Partnership Firm)
• Chapter No. 8 – Company Accounts (Share Capital)
• Chapter No. 9 – Company Accounts (Issue of Debentures)
• Chapter No. 10 – Company Accounts (Redemption of Debentures)

Usha Publication – Accountancy PSEB (Class 12) – Volume II – Solution

• Chapter No. 1 – Financial Statements of a Company
• Chapter No. 2 – Financial Statement Analysis
• Chapter No. 3 –  Tools of Financial Statement Analysis- Comparative and Common Size
• Chapter No. 4 – Ratio Analysis
• Chapter No. 5 – Cash Flow Statement

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