M/s Omkar Enterprise Jalgoan acquired a printing machine for ₹75,000 on 1st Oct 2015 and spent ₹5,000 on its transport and installation. Another Machine for ₹45,000 was purchased on 1st Jan 2017. Depreciation is charged at the rate of 20% on written Down Value Method, on 31st march every year. Prepare Printing Machine Account for the first four years. Prepare Printing Machine Account for the first four years.
Practical Problems on Written Down Value Method
1. M/s Omkar Enterprise Jalgoan acquired a printing machine for ₹75,000 on 1st Oct 2015 and spent ₹5,000 on its transport and installation. Another Machine for ₹45,000 was purchased on 1st Jan 2017. Depreciation is charged at the rate of 20% on written Down Value Method, on 31st march every year.
Prepare Printing Machine Account for the first four years.
Date | Particulars | JF | Amount | Date | Particulars | JF | Amount |
2015 | 2016 | ||||||
1st Oct | To Cash/Bank A/c | 80,000 | 31st March | By Depreciation | 8,000 | ||
31st march | By Balance c/d | 72,000 | |||||
80,000 | 80,000 | ||||||
2016 | 2017 | ||||||
1st April | To Balance b/d | 72,000 | 31st March | By Depreciation | 16,650 | ||
2017 | |||||||
1st Jan | To Cash / Bank A/c | 45,000 | 31st March | By Balance c/d | 1,00,350 | ||
1,17,000 | 1,17,000 | ||||||
2017 | 2018 | ||||||
1st April | To Balance b/d | 1,00,350 | 31st March | By Depreciation | 20,070 | ||
31st March | By Balance c/d | 80,280 | |||||
1,00,350 | 1,00,350 | ||||||
2018 | 2019 | ||||||
1st April | To Balance b/d | 80,280 | 31st March | By Depreciation | 16,056 | ||
31st march | By Balance c/d | 64,224 | |||||
80,280 | 80,280 | ||||||
Comments
Post a Comment