M/s Excel Computers has a debit balance of Rs 50,000 (original cost Rs 1,20,000) in Computers account on April 1, 2000. On July 1, 2000, it purchased another computer costing Rs 2,50,000. One more computer was purchased on January 1, 2001, for Rs 30,000. On April 1, 2004, the computer which has purchased on July 1, 2000, became obsolete and was sold for Rs 20,000. A new version of the IBM computer was purchased on August 1, 2004, for Rs 80,000. Show Computers account in the books of Excel Computers for the years ended on March 31, 2001, 2002, 2003, 2004 and 2005. The computer is depreciated 10% per annum on straight-line method basis.

M/s Excel Computers has a debit balance of Rs 50,000 (original cost Rs

1.	M/s Excel Computers has a debit balance of Rs 50,000 (original cost Rs 1,20,000) in Computers account on April 1, 2000. On July 1, 2000, it purchased another computer costing Rs 2,50,000. One more computer was purchased on January 1, 2001, for Rs 30,000. On April 1, 2004, the computer which has purchased on July 1, 2000, became obsolete and was sold for Rs 20,000. A new version of the IBM computer was purchased on August 1, 2004, for Rs 80,000. Show Computers account in the books of Excel Computers for the years ended on March 31, 2001, 2002, 2003, 2004 and 2005. The computer is depreciated 10% per annum on straight-line method basis.
Answer» M/s Excel Computers has a debit balance of Rs 50,000 (original cost Rs 1,20,000) in Computers account on April 1, 2000. On July 1, 2000, it purchased another computer costing Rs 2,50,000. One more computer was purchased on January 1, 2001, for Rs 30,000. On April 1, 2004, the computer which has purchased on July 1, 2000, became obsolete and was sold for Rs 20,000. A new version of the IBM computer was purchased on August 1, 2004, for Rs 80,000. Show Computers account in the books of Excel Computers for the years ended on March 31, 2001, 2002, 2003, 2004 and 2005. The computer is depreciated $10 %$ per annum on straight-line method basis.

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