radhika masale purchased a plant on 1 jan. 2015 for 80000 .A new plant was also purchased for rs 60000 , installation expenses being rs10000 on 1 april 2016 . on 1 jan.2017 , a new plant was purchased for rs. 20000 , by sold of the 1 plant at 60000 retrun down value method prepare plant account
Answers
do your ouestion self ok bhai
Explanation:
SOLUTION
In the books of Radhika-Masale,Amravati
Dr. CR.
Plant Account
Date Particulars J.F. Amt Date Particulars J.F. Amt
2015 2015
Jan. To Cash/Bank Mar.80,000
31
By Depreciation A/c
2,000
A/C
Mar.
By Balance c/d
78,000
31
80,000
80,000
Sign Up
2015
2016
Apr 1 To Balance b/d
Mar.
78,000
31
By Depreciation A/c
7,800
Mar.
By Balance c/d
70,200
31
78,000
78,000
2016
2017
Apr 1 To Balance b/d
70,200 Jan. 1 By Cash/Bank A/c
60,000
To Cash/Bank
Apr 1
70,000
Jan.
1 By Depreciation A/c
5,265
A/c
(60,000+10,000)
Jan. 1
By P/L A/c (loss on
sale)
4,935
Mar
2017
By Depreciation A/c
7,500
31
Jan 1
To Cash/Bank A/C
20,000
Mar 31
By Balance c/d
82,500
1,60,200
1,60,200
2017
Apr 1 To Balance b/d
82,500
Dr.
Depreciation Account
Cr.
Date
Particulars
J.F. Amt? Date
Particulars
J.F.
Amt?
2015
2015
Mar. 31
To Plant A/c
2,000 Mar 31 By Profit and Loss A/c
2,000
2,000
2,000
2016
2016
Mar. 31
To Plant A/c
7,800 Mar 31 By Profit and Loss A/c
7,800
7,800
7,800
2017
2017
Jan. 1
To Plant A/c
5,265 Mar 31 By Profit and Loss A/c
12,765
Mar. 31 To Plant A/c
7,500
12,765
12,765