mahesh Traders solapur purchased furniture on Ist April 2014 for 220,000. In the same year on ist act additional Forniture was purchased Tox 310,000 on ist act 2015, the furniture purchased on 1st April 2014 was sold for is, ooo and on the same day anew fanniture wa purchased for 7 20,000 The firm charged depreciation 10 t .p.a. on Reducing Balance Method. prepare furniture Account and Account and deprecial 4. Account for the year ending 3 15 1 Mar 31st 2015, 2016 and 2017.
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Explanation: Mahesh Traders Solapur purchased Furniture on 1st April 2014 for ₹ 20,000. In the same year on 1st, Oct. additional Furniture was purchased for ₹ 10,000. On 1st Oct. 2015, the Furniture purchased on 1st April 2014 was sold for ₹ 15,000 and on the same day, a new Furniture was purchased for ₹ 20,000. The firm charged depreciation at 10% p.a. on the Reducing Balance Method. Prepare Furniture Account and Depreciation Account for the year ending 31st March 2015, 2016, and 2017.Read more on Sarthaks.com - https://www.sarthaks.com/2050147/mahesh-traders-solapur-purchased-furniture-april-2014-for-same-year-additional-furniture
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