4. Mohan & Co. purchased machinery for ₹ 21,000 on 1st April, 2021. The estimated useful life of the machinery is 10 years, after which its realisable value will be ₹ 1,000. Determine the amount of annual depreciation according to the Straight-Line Method and prepare Machinery Account for the first three years. The books of … Read more
3. On 1st July, 2023, Raja Ltd. purchased a second-hand machine for ₹ 5,00,000 and spent ₹ 1,00,000 on its cartage, repairs and installation. Calculate the amount of depreciation @ 10% p.a. according to Straight Line Method for the year ending on 31st March, 2024. T.S.Grewal/2024 Edition/Practical Problems/Q-03 For full question, please refer to the … Read more
2. Calculate the Amount of annual Depreciation and Rate of Depreciation under Straight Line Method (SLM) from the following: Purchased a second-hand machine for ₹ 96,000, spent ₹ 24,000 on its cartage, repairs and installation, estimated useful life of machine 4 years. Estimated residual value ₹ 72,000 T.S.Grewal/2024 Edition/Practical Problems/Q-02 For full question, please refer … Read more
1. Calculate annual depreciation and rate of depreciation under Straight Line Method in each of the alternative cases: Case Purchase Price of Machinery (₹) Installation Charges (₹) Estimated Scrap Value (₹) Estimated Useful Life (in Years) (a) 1,80,000 20,000 10,000 5 (b) 4,75,000 25,000 50,000 5 (c) 90,000 10,000 20,000 10 (d) 3,40,000 60,000 40,000 … Read more
45. From the following particulars make out the Bank Reconciliation Statement as on 31st December 2016. (a) Pass book showed a credit balance of ₹15,000 on 31st December 2016. (b) Cheques of ₹17,500 were issued but cheques of ₹12,000 only presented for payment till 31st December. (c) Cheques of ₹10,000 were sent to the bank … Read more
44. On 31st December, 2014, pass book shows debit balance of ₹7,500. From the following particulars, prepare a Bank Reconciliation Statement : (a) Cheques paid in for collection amounted to ₹20,600 but cheques of ₹7,800 were credited on 3rd January, 2015. (b) A cheque of ₹1,000 debited in cash book was omitted to be banked. … Read more
43. On 30th June, 2019, the pass book of Nataraj showed a bank overdraft of ₹46,000. The following additional information is available. You are required to prepare a bank reconciliation statement as on the above mentioned date : (i) Out of total cheques issued, cheques for ₹22,000 have not been presented for payment so far. … Read more
42. While comparing the cash book of Mayank with the bank pass book on 30th September, 2019 you find the following: (i) The bank pass book showed a debit balance of ₹15,000. (ii) Bank paid insurance premium ₹2,000, but it was recorded as ₹200 only in cash book. (iii) Cheques issued in favour of suppliers … Read more
41. Prepare a Bank Reconciliation Statement as on 31st Dec.. 2019 from the following transactions: (i) Bank overdraft as per Pass Book ₹22,000 as on 31st Dec. (ii) On 28th Dec., cheques had been issued for ₹50,000 of which cheques worth ₹6,000 only had been encashed upto 31st Dec. (iii) Cheques amounted to ₹4,500 had … Read more
40. Prepare a Bank Reconciliation Statement in the books of Bharti as on 31st January, 2023 (a) Balance as per Pass Book as on 31st January, 2023 was ₹62,500. (b) Cheque of ₹17,800 was issued by her on 28th January 2023 but this was not payment till 31st January 2023. (c) A cheque of ₹4,000 … Read more