M/s. Excel Computers has purchased computers costing Rs. 1,20,000 on April 01, 2001. On July 01, 2001 it purchased another computer costing Rs. 2,50,000. One more computer was purchased on January 01, 2002 for Rs. 30,000. On April 01, 2003 the computer which has purchased on July 01, 2001 became obsolete and was sold for Rs. 20,000. A new version of the IBM computer was purchased on August 01, 2003 for Rs. 80,000. Show Computers account in the books of Excel Computers for the years ended on March 31, 2002, 2003 and 2004. The computer is depreciated @10 p.a. on straight line method basis.
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Date Particulars JF Amt.(Rs) Date Particulars JF Amt. (Rs)
2000 Apr 1 To Balance b/d 50,000 2001 Mar 31 By Depreciation A/c
C1 = 12,000
C2 = 18,750
C3 = 750
31,500
Jan 1 To Bank A/c 30,000 Mar 31 By Balance c/d
C1 = 38,000
C2 = 2,31,250
C3 = 29,250
2,98,500
3,30,000 3,30,000
2001 Apr 1 To Balance b/d
C1 = 38,000
C2 = 2,31,250
C3 = 29,250
2,98,500 2002 Mar 31 By Depreciation A/c
C1 = 12,000
C2 = 25,000
C3 = 3,000
40,000
Mar 31 By Balance c/d
C1 = 26,000
C2= 2,06,250
C3 = 26,250
2,58,500
2,98,500 2,98,500
2002 Apr 1 To Balance b/d
C1 = 26,000
C2 = 2,06,250
C3 = 26,250
2,58,500 2003 Mar 31 By Depreciation A/c
C1 = 12,000
C2 = 25,000
C3 = 3,000
40,000
Mar 31 By Balance c/d
C1 = 14,000
C2 = 1,81,250
C3 = 23,250
2,18,500
2,58,500 2,58,500
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