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

Q-31 - CH-1 - Usha +2 Book 2018 - Solution

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.

 Particulars 01-04-14 31-03-15 Furniture 28,000 42,000

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 : –

 Amount of Depreciation to be charged to Income and Expenditure Account Particulars Amount Opening balance of furniture 28,000 Add: Purchase of furniture during the year (WN1) 20,000 48,000 Less: Closing balance of furniture (42,000) Sports Fund balance as on 31-3-2015 6,000

Working Note:

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

 Particulars L.F. Debit Credit Furniture a/c Dr. 20,000 Input IGST a/c Dr. 2,400 To Cash/ Vendor 22,400

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: –