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Question 49 Chapter 1 VK Publications Class 12 Part 2 – 2021

Question no. 49 VK Publications
Question no. 49 VK Publications

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Question 49 Chapter 1 VK Publications Class 12 Part 2 – 2021

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49. From the following information, prepare ‘Notes to Accounts on Depreciation and Amortisation’ in the books of accounts of Peaceful Ltd. for the year ended 31st March, 2018 :
Building Rs. 8,00,000
Plant and Machinery Rs. 5,00,000
Furniture and Fixtures Rs. 80,000
Depreciation charged on fixed assets @5%
Goodwill amortised Rs. 40,000
Patents amortised Rs. 15,000

The solution of Question 49 Chapter 1 VK Publications Class 12 Part 2: –

ParticularsRs.31st March 2018
Depreciation and amortization Expenses  
   
(a) Depreciation  
Building40,000 
Plant and Machinery25,000 
Furniture and Fixtures4,00069,000
   
(b) Amortization  
Goodwill Amortised40,000 
Patents Amortised15,00055,000
Finance Cost to be shown in the Statement of profit and loss  1,24,000

 

Financial Statements of a Company and Its formats

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