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प्रश्न
Azad Ltd. purchased furniture on October 01, 2014 for ₹ 4,50,000. On March 01, 2015 it purchased another furniture for ₹ 3,00,000. On July 01, 2016, it sold off the first furniture purchased in 2014 for ₹ 2,25,000. Depreciation is provided at 15% p.a. on written down value method each year. Accounts are closed each year on March 31. Prepare furniture account, and accumulated depreciation account for the years ended on March 31, 2015, March 31, 2016 and March 31, 2017. Also give the above two accounts if furniture disposal account is opened.
उत्तर
| Dr. | Books of Azad Ltd. Furniture Account |
Cr. | |||||
| Date | Particulars | J.F. | Amount ₹ |
Date | Particulars | J.F. | Amount ₹ |
| 2014 | 2015 | ||||||
| Oct.01 | Bank (i) | 4,50,000 | |||||
| 2015 | |||||||
| Mar.01 | Bank (ii) | 3,00,000 | Mar.31 | Balance c/d | 7,50,000 | ||
| 7,50,000 | 7,50,000 | ||||||
| 2015 | 2016 | ||||||
| Apr.01 | Balance b/d (i) 4,50,000 (ii) 3,00,000 |
7,50,000 | |||||
| Mar.31 | Balance c/d | 7,50,000 | |||||
| 7,50,000 | 7,50,000 | ||||||
| 2016 | 2016 | ||||||
| Apr.01 | Balance b/d (i) 4,50,00 (ii) 3,50,000 |
7,50,000 | Jul.01 | Furniture Disposal | 4,50,000 | ||
| 2005 | |||||||
| Mar.31 | Balance c/d | 3,00,000 | |||||
| 7,50,000 | 7,50,000 | ||||||
| Dr. | Accumulated Depreciation Account | Cr. | |||||
| Date | Particulars | J.F. | Amount ₹ |
Date | Particulars | J.F. | Amount ₹ |
| 2015 | 2015 | ||||||
| Mar.31 | Balance c/d | 37,500 | Mar.31 | Depreciation (i) 33,750 (ii) 3,750 |
37,500 | ||
| 37,500 | 37,500 | ||||||
| 2016 | 2015 | ||||||
| Mar.31 | Balance c/d | 1,44,376 | Apr.01 |
Balance b/d | 37,500 | ||
| 2016 | |||||||
| Mar.31 | Depreciation (i) 62,438 (ii) 44,378 |
1,06,876 | |||||
| 1,44,376 | 1,44,376 | ||||||
| 2016 | 2016 | ||||||
| July.01 | Furniture Disposal | 1,09,456 | Apr.01 | Balance b/d | 1,44,376 | ||
| 2017 | July.01 | Depreciation (i) | 13,268 | ||||
| Mar.31 | Balance c/d | 85,960 | 2017 | ||||
| Mar.31 | Depreciation (ii) | 37,772 | |||||
| 1,95,416 | 1,95,416 | ||||||
| Dr. | Furniture Disposal Account | Cr. | |||||
| Date | Particulars | J.F. | Amount ₹ |
Date | Particulars | J.F. | Amount ₹ |
| 2016 | 2016 | ||||||
| Jul.01 | Furniture | 4,50,000 | Jul.01 | Accumulated Dep. |
1,09,456 | ||
| Jul.01 | Bank | 2,25,000 | |||||
| Profit and | |||||||
| Jul.01 | Loss (Loss) | 1,15,544 | |||||
| 4,50,000 | 4,50,000 | ||||||
Working Note:
Furniture (i)
|
Years |
Opening Balance |
Depreciation |
Closing Balance |
|||
|
2014 – 2015 |
4,50,000 |
– |
33,750 |
= |
4,16,250 |
|
|
2015 – 2016 |
4,16,250 |
– |
62,438 |
= |
3,53,812 |
|
|
2016 |
3,53,812 |
– |
13,268 |
(3 months) |
= |
3,40,544 |
|
1,09,456 |
||||||
|
Balance on July 01, 2016 |
3,40,544 |
|
Less: Sale on July 01, 2016 |
(2,25,000) |
|
Loss on sale of furniture |
1,15,544 |
APPEARS IN
संबंधित प्रश्न
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| Name of the Account | Debit Amount ₹ |
Credit Amount ₹ |
| Sundry debtors | 50,000 | |
| Bad debts | 6,000 | |
| Provision for doubtful debts | 4,000 |
Additional Information:
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Give necessary accounting entries for writing off the bad debts and creating the provision for doubtful debts account. Also show the necessary accounts.
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| Sundry Debtors | ₹ 80,500 |
| Bad debts | ₹ 1,000 |
| Provision for bad debts | ₹ 5,000 |
| Additional Information | |
| Bad Debts | ₹ 500 |
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