Mr. ‘X’ purchased Furniture on 1st October 2015 at ₹ 2,80,000 and spent ₹ 20,000 on its installation. He provides depreciation at 6% under the straight-line method on 31st March 2016. Calculate the amount of depreciation.
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X Ltd. purchased furniture of Rs. 10,00,000 from Y Ltd. and paid 20% of the amount by accepting a bill of exchange in favour of Y Led. The remaining a
(i) Dr. Furniture A/c and Cr. Y Ltd. By Rs. 10,00,000. (ii) Dr. Y Ltd. - Rs. 10,00,000, Cr. Bills Payable A/c - Rs. 2,00,000, Equity Share Capital A/c -...
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On 1st April, 2013, the following balances appeared in the books of Jeet Ltd.: `{:("9% Debentures (Redeemable on 31st March, 2015)"," ","Rs. 30,00,000
Amount transferred to Debenture Redmption Reserve = Rs. 2,50,000. Debenture Redemption Investment= Rs. 4,50,000.
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Fixed Assets (at cost) ₹ 12,00,000,Accumulate Depreciation till date ₹ 2,00,000, Trade Investment ₹ 1,00,000, Current Assets ₹ 4,40,000: Current Liabi
Capital employed turnover ratio `="Revence from Operations (Net sales )"/"Capital Employed " ` `=(₹ 20,00,000)/(₹ 12,00,000)`=1.67 Times Capital Employed =Net Fixed Assets +Trade Investment +Current Assets -Current Liabilities = (₹...
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Fixed Assets (At cost) ₹ 21,00,000, Accumulated Depreciation till date ₹ 3,00,000 Credit Sales ₹ 51,00,000, Cash Sales ₹ 4 ,50,000, Sales Return ₹ 1,5
Fixed Assets Turnover Ratio`=(" Revenue from Operations")/("Net Fixed Assets")=( "₹ 54,00,000 ")/("18,00,000")`=3 times Revenue from Operations (Net Sales) Credit Sales +Cash Sales-Sales Return = ₹ 51,00,000+₹ 4,50,000-₹ 1,50,000= ₹ 54,00,000....
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Fixed Assets ₹ 4,00,000, working Capital ₹ 2,00,000, Cost of Goods Sold ₹ 20,00,000, Gross Sold ₹ 20,00,000, Gross profit ₹ 4,00,000 .Calculate Captia
Capital Employed Turnover Ratio = 4 Times
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i. The method of depreciation in which the rate of depreciation is fixed but the amount of depreciation reduces every year.
i. Reducing Balance Method ii. Fixed Asset iii. Installation Charges iv. Profit on Sale of Asset v. Diminishing Balance Method
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If the cost of the Computer is ₹ 40,000 and depreciation is to be charged at 8% p.a. Calculate the amount of depreciation.
Depreciation p.a. = Cost of computer (×) percentage = 40,000 × \(\frac{8}{100}\) = ₹ 3,200 p.a.
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M/s Sitaram and Co Purchased a Machinery on 1st January 2016 for ₹ 2,00,000. The company provides depreciation @ 10% p.a. on Reducing Balance Method
Original cost on 01.01.2016 = ₹ 2,00,000 Less: Dep for 2015-16 for 3 months = ₹ 5,000 W.D.V. on 01.04.2016 = ₹ 1,95,000 Less: Dep for 2016-17 for 12 months = ₹ 19,500 W.D.V....
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On 1st July 2016 M/s. Ramai & Co. .sold Machinery for ₹ 7,000 the original cost of ₹ 10,000 which was purchased on 18th April 2015.
Original cost of machinery on 01.04.2015 = ₹ 10,000 Less: Dep for 2015-16 for 12 months = ₹ 1,000 W.D.V. on 01.04.2016 = ₹ 9,000 Less: Dep for 2016-17 for 3 months = ₹...
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The machinery of ₹ 35,500 is purchased on 1st July 2018 and on the same day ₹ 4,500 are spent on the installation of the Machinery.
Cost of Machinery = Purchase Price + Installation Charges = 35,500 + 4,500 = ₹ 40,000 Depreciation for 9 months = 40,000 × \(\frac{7}{100}\times\frac{9}{12}\) = ₹ 2,100
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