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Welcome back to Learn At Ur Desk! We are
doing textbook solution series for TS Intermediate 2nd year Accountancy. We have
started solving Chapter 1 Depreciation Problems and in my Last Post I have
posted the solution for problem #3 and today we are going to solve Problem #4.
Textbook Solution Series (TBS Series)
for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.
Chapter 1: Depreciation
Page #37 problem #4.
Rajesh and Sons purchased a machine on 1st
October 2008 for ₹20,000. Depreciation is provided at 15%. An original cost
method. Another machine was bought on 1st April 2010 for ₹30,000.
Prepare machinery account up to 31st March 2011.
Working notes.
Cost of Machine 1 = 20,000.
Machine 1 is bought in the middle of the year i.e., 1st
October 2008.
Hence, Depreciation for the year ending 31st
March 2009 will be only for 6 Months not for an year
Cost of Machine 1 = 20,000
Depreciation for 2009
= 6 Months
20,000 × 15 ÷ 100 × 6 ÷ 12 = 1,500
Depreciation for 2010 & 2011
20,000 × 15 ÷ 100 = 3,000
Cost of Machine 2 = 30,000
Depreciation for 2011
30,000 × 15 ÷100 = 4,500.
Ok that's
it in this problem!
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Click herefor Depreciation Problem #3 solution
Click herefor Depreciation Problem #5 solution
If you are
TS Intermediate 1st Year student then go to TSBIE Accountancy I Recording Business Transactions problem
# 1solved!
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