InterviewSolution
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Vinod Limited purchase of plant on 1st April 2015 15008 purchase another plant on 1st October 2015 costing 20,000 and on 1st July 2016 cost in 30,000 on 1st January 2017 the plant purchase on 1st April 2015 became useless and was sold for 2000 show plant accounting 10% application by fixed installment method for 3 years the plant purchase on 1st October 2015 was sold for 8000 on 1st January 2018 accounts of the company or closed on 31st March every year |
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Answer» Explanation:MACHINERY Account Date Particulars Amount Date Particulars Amount April 1 To Bank 15 000 Dec 31 By Dep. A/c 1 625 Oct 1 To Bank 20000 By Bal c/d 33375 35000 35000 To Bal b/d 33375 By Dep. A/c 5000 To Bank A/c 30000 By Bal c/d 58375 63375 63375 To Bal b/d 58375 By Dep. A/c 5000 By Bank 2000 By p&l A/c 10375 By Bal c/d 41000 58375 58375 To Bal b/d 41000 By Dep. A/c 3000 By Bank 8000 By p&l A/c 7500 By Bal c/d 22500 41000 41000 By bal c/d 22500 |
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