Ugovo)Neelima traders purchased Furniture 20,000 on 15 April 2006. Add

1.	Ugovo)Neelima traders purchased Furniture 20,000 on 15 April 2006. Additions are made to theFurniture on 30th Sept 2007 for 10,000. On 31st December 2009, the Furniture purchased on19 April 2006 was sold for 7,000. Depreciation is charged at 10% on fixed installment method.The firm closes its books at the end of financial year. Prepare Furniture a/c for four years.(Ans: Loss on sale of Furniture 5,500, After four years the balance of FurnitureA/c is: 7,500)
Answer» Answer: LOSS on FURNITURE =5,500 after 5 yrs BALANCE on furniture = 7,500

Ugovo)Neelima traders purchased Furniture 20,000 on 15 April 2006. Additions are made to theFurniture on 30th Sept 2007 for 10,000. On 31st December 2009, the Furniture purchased on19 April 2006 was sold for 7,000. Depreciation is charged at 10% on fixed installment method.The firm closes its books at the end of financial year. Prepare Furniture a/c for four years.(Ans: Loss on sale of Furniture 5,500, After four years the balance of FurnitureA/c is: 7,500)

Answer»

Answer:

LOSS on FURNITURE =5,500

after 5 yrs BALANCE on furniture = 7,500

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Tois question based GISTBasie Prodquet? Gust Sales SupplyАB 2200150800118.00 to 20018.001 300 Intre statoI istrustile12.00 lo1120 Istrestaleb.Tabb Trade Details (sales and purchaseJitems opening stat I purchased sold closingo0104803oa) find out belowgiveoQuestionsCGST ,SGST , LGST final balance?1. use different lable for saleand purchas drade.Neft profit from the trade?closing stock valuations ?

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