Sanika Enterprises, Pune purchased furniture for ` 40,000 on 1st July
2005. Additional furniture on 1st January 2007 was purchased for
` 20,000. They charged depreciation at 15% p.a. on original cost.
On 1st October 2007 they sold the furniture purchased on 1st July
2005 for ` 32,000 and on the same date new furniture was purchased
for ` 10,000. Show Furniture Account and Depreciation Account for
the years 2005-06, 2006-07, and 2007-08 assuming that the finalcial
year closes on 31st March, every year.
Answers
Answer:
Explanation:
On 1 oct 2015, the furniture purchased on 1 april 2014 was sold for rs. 15000 and on the same day a new furniture was purchased for rs.20000. The firm charged depreciation at 10% p.a. on reducing balance method.
2
SEE ANSWERS
Answer
2.0/5
3
akshit5623
Helping Hand
3 answers
72 people helped
To keep reading this answer, download the free app
Join millions of students having fun with homework
4.6
VIEW ANSWER IN-APP
rosariomividaa3 and 5 more users found this answer helpful
THANKS
3
2.0
(2 votes)
Answer
5
Smitkalote4242
Helping Hand
1 answer
4 people helped
UNLOCK
soobee72pl and 5 more users found this answer helpful
THANKS
5
0.0
(0 votes)
Still have questions?
FIND MORE ANSWERS
ASK YOUR QUESTION
New questions in Accountancy
स्वच्छता क्या है धारा 11 १ अनुसार
ABC & Co. Purchased Furniture on 1st April 2007 for ` 60,000. Additional Furniture was purchased on 1st October 2007 for ` 30,000. On 1st October …
Sanika Enterprises, Pune purchased furniture for ` 40,000 on 1st July 2005. Additional furniture on 1st January 2007 was purchased for ` 20,000. They …
3. From the information given below, prepare a Trading A/C of M/S ABC Traders for the year ended 31.03.2017. ₹ 1,00,000 6,27,000 Opening Inventory Pur…
As per the Accounting Standard-26 _______ goodwill cannot be shown in books. A) Good will for which some amount is paid for consideration B) Internall…
define credit card in simple word?
I loves girl girl is my life
In which terms ratio are presented??
Goodwill whether self generated or purchased will be shown in the assets side of the balance sheet. True or false. Explain
rahul started business with cash ₹50,00,000 and stock ₹2,00,000 during the year he sold goods costing ₹50,000 for ₹80,000 on credit to aditya he purch…
In absence of partnership deed Interest on loan advanced by a partner will be
receipt and payment account is a
types of capital expenditure
7091482857:#:8116494943/rummycircle/ customer /care /number/
Good will is ____ where individual skill is important. (a)more (b) less (c) Zero (d) negative answer my question as fast as you ❤️
5. व्याख्या किसे कहते हैं? य ह क्यों लिखा जाता है?
Good will is______ where individual skill is important
(c) Profil all (d) None of the above 1 12. E, F and G are partners sharing profits in the ratio of 3:3:2. As per the partnership agreement, G is to ge…
UN respect A and B are partners in the ratio of 3: 2. The firm maintains fluctuating capital accounts and s of the same as on 31-03-2020 amounted to 1…
what is depreciation ? srikesh whe re are you. arra nge a me eting or fol low me and I also to not find ..
LOAD MORE
Previous
Next