Question

Jupiter Company purchased a furniture for Rs.30,000 on 1st January, 2017. It also purchased another furniture costing Rs.20
,000 on 1st July, 2017. On 30th September 2018, the first furniture was found unsuitable and was disposed off for Rs.25,000. On the same date, another furniture costing Rs.35,000 was purchased. It follows the original cost method of depreciation at 10% p.a. Accounts are closed at
the end of June every year.
Required: Furniture account from 2017 to 2019
(Ans.: Gain on sales Rs.250, Balance: Rs. 48.375)​

Answer 1

Answer:

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