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Delhi Youth Club has furniture at a value of ₹ 2,20,000 in its book on 31st March, 2018. It sold old furniture, having book value of ₹ 20,000 as at 1st April , 2018 at a loss of 20% on 31st December, 2018. Furniture is to be depreciated 10% p.a. Furniture costing ₹ 1,50,000 was also purchased on 1st October, 2018.Prepare Furniture Account for the year ended 31st March, 2019. |
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Answer» Delhi Youth Club has furniture at a value of ₹ 2,20,000 in its book on 31st March, 2018. It sold old furniture, having book value of ₹ 20,000 as at 1st April , 2018 at a loss of 20% on 31st December, 2018. Furniture is to be depreciated 10% p.a. Furniture costing ₹ 1,50,000 was also purchased on 1st October, 2018. Prepare Furniture Account for the year ended 31st March, 2019. |
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