Star Ltd. purchase a machinery that costs Rs.20,000 on 1st April 2014 and another
machine that costs Rs.10,000 is purchased on 1st July 2016 and third machine is
purchased on 1 January 2017 costing Rs.40,000. Prepare machinery account for
four years and depreciation charge on 31st March every year and rate of
depreciation 10% p.a. by straight line method.
Answers
Explanation:
the books of Abhi
016
uly 1 Started business with 5,000 in cash and 2,500 worth of goods.
2 Opened a bank account and deposited 3,000.
2 Bought goods for cash 500.
5 Bought furniture from X on credit 3 500.
8 Sold goods for cash 750.
10 Sold goods to A on credit 1,350.
11 Received cash from A1,335 and allowed him discount * 15.
15 Purchased goods from C of the list price 800 subject to 12.5 percent trade discount
20 Gave away as charity cash 101 and goods worth 51.
22 Paid C690 in full settlement of his account.
25 Withdrew goods for personal use 200
26 Cash withdrawn from bank for office use * 400.
26 Purchased investments 1,500.
30 Paid rent 45 and salaries 100 for the month.
31 Received commission 125.plz answer me as soon as possible.the books of Abhi
016
uly 1 Started business with 5,000 in cash and 2,500 worth of goods.
2 Opened a bank account and deposited 3,000.
2 Bought goods for cash 500.
5 Bought furniture from X on credit 3 500.
8 Sold goods for cash 750.
10 Sold goods to A on credit 1,350.
11 Received cash from A1,335 and allowed him discount * 15.
15 Purchased goods from C of the list price 800 subject to 12.5 percent trade discount
20 Gave away as charity cash 101 and goods worth 51.
22 Paid C690 in full settlement of his account.
25 Withdrew goods for personal use 200
26 Cash withdrawn from bank for office use * 400.
26 Purchased investments 1,500.
30 Paid rent 45 and salaries 100 for the month.
31 Received commission 125.plz answer me as soon as possible.