Question

Opng bal. of Furniture on 1/4/2020 -
Rs. 1,00,000; Additional purchase on
1/07/2020 - Rs. 50,000. Rate of
Depreciation - 12% p.a. Calculate
Closing Balance for year ended
31/3/2021.
Rs.1.38.000
Rs.1.36,500
Rs.132.000
Rs.1.33,500​

Answer 1

Answer:

Closing Balance Rs. 1,36,500

Explanation:

Step : 1

opening bal of Furniture Rs. 100000

+ Additional purchase. Rs. 50000

Total furniture. Rs. 1,50,000

Step : 2

I) Depreciation = 1,50,000 X 12/100 X 9/12

= Rs. 13,500

2) Closing Balance of Furniture = 1,50,000 - 13,500

= Rs. 1,36,500