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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 #10 and today we are going to solve Problem #11. Textbook Solution Series (TBS Series) for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.  Chapter 1: Depreciation Page #41 problem #11.   Madhu and Co. purchased the machine on 1 st April 2010 for ₹20,000. Depreciation is charged at 10% and a diminishing balance method. The company prepares accounts at the end of the financial year. Prepare machine account for three years.   Working notes. Cost of Machine = 20,000 Depreciation for 2011 20,000 × 10 ÷ 100 = 2,000 Depreciation for 2012 20,000 – 2,000 = 18000 × 10 ÷ 100 = 1,800 Depreciation for 2013 18,000 – 1,800 = 16,200 × 10 ÷ 100 = 1,620.   Ok that's it in this prob...

  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 #9 and today we are going to solve Problem #10. Textbook Solution Series (TBS Series) for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.  Chapter 1: Depreciation Page #40 problem #10. Neelima traders purchased furniture ₹20,000 on 1 st April 2006. Additions are made to the furniture on 30 th September 2007 for ₹10,000. On 31 st December 2019, Furniture purchased on 1 st April 2006 was sold for ₹7000. Depreciation is charged at 10% on fixed instalment method. The firm closes its books at the end of financial year. Prepare furniture account for four years. Working Notes. Cost of Furniture (F1) = 20,000 Depreciation for 2007, 2008 & 2009 20,000 × 10 ÷ 100 = 2,000 Since Furniture 1 is sold o...

  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 #8 and today we are going to solve Problem #9. Textbook Solution Series (TBS Series) for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.  Chapter 1: Depreciation Page #40 problem #9. Vardhan purchased a machine on 31st March 2008 for ₹70,000. Depreciation is charged a 10% under original cost method. After three years, he found that the machine was not suitable and sold for ₹55,000. Show the machine account.   Working notes.   Cost of machine = 70,000. Depreciation for 2009, 2010 and 2011 70,000 × 10 ÷ 100 = 7,000. Accumulated Depreciation = 7000 + 7000 + 7000 = 21,000. Book Value of machine after 3 years = Cost of Machine – Accumulated Depreciation. 70,000 – 21,000 = 49,000. Prof...

  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 #7 and today we are going to solve Problem #8. Textbook Solution Series (TBS Series) for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.  Chapter 1: Depreciation Page #39 problem #8.   Raghava bought a plant and machine on 1 st April , 2009, for ₹23,000 and paid ₹2,000 for its installation. Depreciation is to be allowed at 10% under a straight line method. On 31 st March 2012, the plant was sold for ₹8000. Assuming that the accounts are closed at the end of the financial year. Prepare plant & machine account. Working notes. Cost of Plant and machine = 23,000 + 2,000 = 25,000. Depreciation for 2010, 2011 and 2012. 25,000 × 10 ÷ 100 = 2,500 Calculation of Profit/Loss on Sale of Asset. ...

  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 1 st April 2009, a firm purchased a machine for ₹80,000. Additional machinery was purchased on 30 th September 2010 for ₹40,000. And on April 1 st , 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 31 st 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 ...

  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 #5 and today we are going to solve Problem #6. Textbook Solution Series (TBS Series) for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.  Chapter 1: Depreciation Page #38 problem #6.   Karthik & Company bought a machine on 1 st January 2008 for ₹100,000. Depreciation is provided at 15% under straight line method. Another machine was purchased on 1 st October 2010 for ₹5000. Company closes its accounts every year at the end of the financial year. Prepare machine account for four years. Working notes. Cost of Machine 1 = 100,000. Machine 1 is bought in the middle of the year i.e., 1 st Jan 2008. Hence, Depreciation for the year ending 31 st March 2008 will be only for 3 Months not for an...

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 #4 and today we are going to solve Problem #5. Textbook Solution Series (TBS Series) for Telangana State Board of Intermediate Education (TSBIE) Second Year Accountancy.  Chapter 1: Depreciation Page #37 problem #5.   Ramana and Brothers purchased furniture for ₹22,000 on 1 st July 2009. Erection charges paid for ₹3000 and paid for carriage ₹5000. Depreciation is to be charged at the rate of 10% on original cost method. Additions are made to the asset for ₹10,000 on 1 st April 2010. Show the furniture account for three years, assuming that accounts are closed on 31 st March every year. Working notes.   Cost of furniture = 22,000 + 3000 + 5000 = 30,000. Furniture is bought in the middle of the year i.e., 1 st July 2009. Hence, Depreciation ...

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 1 st October 2008 for ₹20,000. Depreciation is provided at 15%. An original cost method. Another machine was bought on 1 st April 2010 for ₹30,000. Prepare machinery account up to 31 st March 2011.   Working notes.   Cost of Machine 1 = 20,000. Machine 1 is bought in the middle of the year i.e., 1 st October 2008. Hence, Depreciation for the year ending 31 st March 2009 will be only for 6 Months not for an year Cost of Machine 1 = 20,000 Depreciation for 2009 ...