MAHARASHTRA

XII (12) HSC

XI (11) FYJC
X (10) SSC

### DEPRECIATION QUESTION WITH ANSWER QUESTION NO. 3

OMTEX CLASSES

1.       A company purchased a machine worth Rs. 2,00,000 on 1st Jan. 1976. On 1st Jan 1977, the company purchased an additional machine for Rs. 40,000. On 1st July 1978, the company sold the machine purchased on 1st Jan 1977 for Rs. 32,000. Company writes off depreciation at the rate of 10% on the original cost and the accounts are closed every year on 31st Dec. Show the Machinery Account and Depreciation Account for the three years ending 31st Dec. 1976, 1977 and 1978 under Fixed Instalment Method. [F.I.M]

Working Note: calculation of depreciation
 Date Machinery Machinery 2 Total depreciation 1.1.76 200000 Depreciation@10% 20000 20000 1.1.77 180000 40000 Depreciation@10% 20000 4000 24000 1.1.78 160000 36000 Depreciation@10% 2000 2000 31.6.78/1.7.78 34000 Sold 32000 2000Loss Depreciation@10% 20000 20000 1.1.79 140000
M/S ______________________
MACHINERY ACCOUNT
 DATE PARTICULARS AMOUNT DATE PARTICULARS AMOUNT 1.1.76 To Cash Bank Account 200000 31.12.76 By depreciation Account 200000 31.12.76 By balance c/d 180000 200000 200000 1.1.77 To balance b/d 180000 31.12.77 By depreciation account 24000 1.7.77 To cash/bank account 40000 31.12.77 By balance c/d 196000 220000 220000 1.1.78 To balance b/d 196000 1.7.78 By depreciation account 2000 1.7.78 By cash / bank account 32000 1.7.78 By profit / loss account 2000 31.12.78 By depreciation account 20000 31.12.78 By balance c/d 140000 196000 196000 1.1.79 To balance b/d 140000

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2019 Board Paper Solution

HSC ENGLISH SET A 2019 21st February, 2019

HSC ENGLISH SET B 2019 21st February, 2019

HSC ENGLISH SET C 2019 21st February, 2019

HSC ENGLISH SET D 2019 21st February, 2019

SECRETARIAL PRACTICE (S.P) 2019 25th February, 2019

HSC XII PHYSICS 2019 25th February, 2019

CHEMISTRY XII HSC SOLUTION 27th, February, 2019

OCM PAPER SOLUTION 2019 27th, February, 2019

HSC MATHS PAPER SOLUTION COMMERCE, 2nd March, 2019

HSC MATHS PAPER SOLUTION SCIENCE 2nd, March, 2019

SSC ENGLISH STD 10 5TH MARCH, 2019.

HSC XII ACCOUNTS 2019 6th March, 2019

HSC XII BIOLOGY 2019 6TH March, 2019

HSC XII ECONOMICS 9Th March 2019

SSC Maths I March 2019 Solution 10th Standard11th, March, 2019

SSC MATHS II MARCH 2019 SOLUTION 10TH STD.13th March, 2019

SSC SCIENCE I MARCH 2019 SOLUTION 10TH STD. 15th March, 2019.

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SSC SOCIAL SCIENCE I MARCH 2019 SOLUTION20th March, 2019

SSC SOCIAL SCIENCE II MARCH 2019 SOLUTION, 22nd March, 2019

XII CBSE - BOARD - MARCH - 2019 ENGLISH - QP + SOLUTIONS, 2nd March, 2019

HSC Maharashtra Board Papers 2020

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