Question

from the following particulars, prepare
profit and loss Ale as on 31.03.2019
particular
particular
ht?
Biscount received
2 .
salaries
500
1500
Rent
900
9,000
500
Gros profit
stationery
900
400
stationery
Discount allowed
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propenses
Commission
1, GOO
7ob
paid​

Answer 1

On 1-4-2010, a Company purchased plant and machinery for 2,00,000. New

machinery for 10,000 was purchased on 1-1-2011 and for 720,000 on 1-10-2011. On

1-7-2012, a machinery whose book value had been 30,000 on 1-4-2010'was sold for

*16,000 and the entire amount was credited to plant and Machinery Account.

Depreciation had been charged at 10% per annum on straight-line method. Accounts

are closed on 31st March every year. Show the plant and Machinery Account from

1-4-2010 to 31-3-2013.