The Path to a Greener Future: Understanding Sustainable Development In an era where environmental challenges and resource depletion are becoming increasingly evident, the concept of sustainable development has gained significant importance. Sustainable development aims to meet the needs of the present without compromising the ability of future generations to meet their own needs. This blog post will explore the principles, goals, and strategies of sustainable development, highlighting its critical role in ensuring a balanced and healthy future for our planet. "Transforming our world: The path to sustainable development." What is Sustainable Development? Sustainable development is a holistic approach that integrates economic growth, environmental protection, and social equity. It seeks to create a harmonious relationship between human activities and the natural world, ensuring that resources are used efficiently and responsibly. Definition: The most widely recognized de...
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 #6 and today we are going to solve Problem #7.
Textbook Solution Series (TBS Series)
for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.
Chapter 1: Depreciation
Page #39 problem #7.
On 1st
April 2009, a firm purchased a machine for ₹80,000. Additional machinery was
purchased on 30th September 2010 for ₹40,000. And on April 1st,
2011 for ₹20,000. Depreciation is charged at the rate of 10% under straight
line method. Should the machine account for 2010, 2011 and 2012. Assuming that
accounts are closed on 31st March every year.
Working notes.
Cost of machine 1 = 80,000.
Depreciation for 2010, 2011, 2012.
80,000 × 10 ÷ 100 = 8,000.
Cost of machine 2 = 40,000
Machine 2 is bought in the middle of the year i.e., 31st
September 2010.
Hence, Depreciation for the year ending 31st
March 2011 will be only for 6 Months not for an year
Depreciation for 2011 = 6 Months
40,000 × 10 ÷ 100 × 6 ÷ 12 = 2,000.
Cost of machine 3 = 20,000
Depreciation for 2012
20,000 × 10 ÷ 100 = 2,000.
Ok that's
it in this problem!
If you
found this TSBIE Solutions useful then share with your friends as sharing
knowledge means gaining knowledge.
Don’t
forget to subscribe to Learn At Ur Desk and hit the bell icon🔔 showing on the right side of this blog and Allow us to send you
notification for latest update, because everyday we're going to Solve 1
Problem.
You can
also follow this blog on social media platforms stated here to get latest
updates, connect with us on Pinterest, Twitter, Instagram, Telegram and WhatsApp.
Till then
take care, stay safe and keep learning!
Click herefor Depreciation Problem #6 solution
Click herefor Depreciation Problem #8 solution
If you are
TS Intermediate 1st Year student then go to TSBIE Accountancy I Recording Business Transactions problem
# 1solved!
Comments
Post a Comment