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Question -

M/s. Excel Computers has a debit balance of Rs 50,000 (original cost Rs 1,20,000) in computers account on April 01, 2010. On July 01, 2010 it purchased another computer costing Rs 2,50,000. One more computer was purchased on January 01, 2011 for Rs 30,000. On April 01, 2014 the computer which has purchased on July 01, 2010 became obsolete and was sold for Rs 20,000. A new version of the IBM computer was purchased on August 01, 2014 for Rs 80,000. Show Computers account in the books of Excel Computers for the years ended on March 31 2011, 2012, 2013, 2014 and 2015. The computer is depreciated @10 p.a. on straight line method basis.



Answer -

Books of M/s Excel Computers

Computer Account

Dr.

 

 

 

 

 

 

Cr.

Date

Particulars

J.F.

Amount

Rs

Date

Particulars

J.F.

Amount 

Rs

2010

 

 

 

2011

 

 

 

Apr.01

Balance b/d (i)

 

50,000

Mar.31

Depreciation

 

 

Jul.01

Bank (ii)

 

2,50,000

 

(i) 12,000, (ii) 18,750,

 

 

2011

 

 

 

 

(iii) 750

 

31,500

Jan.01

Bank (iii)

 

30,000

Mar.31

Balance c/d

 

 

 

 

 

 

 

(i) 38,000, (ii) 2,31,250,

 

 

 

 

 

 

 

(iii) 29,250

 

2,98,500

 

 

 

3,30,000

 

 

 

3,30,000

 

 

 

 

 

 

 

 

2011

 

 

 

2012

 

 

 

Apr.01

Balance b/d

 

 

Mar.31

Depreciation

 

 

 

(i) 38,000, (ii) 2,31,250,

 

 

 

(i) 12,000 (ii) 25,000,

 

 

 

(iii) 29,250

 

2,98,500

 

(iii) 3,000

 

40,000

 

 

 

 

Mar.31

Balance c/d

 

 

 

 

 

 

 

(i) 26,000 (ii) 2,06,250,

 

 

 

 

 

 

 

(iii) 26,250

 

2,58,500

 

 

 

2,98,500

 

 

 

2,98,500

 

 

 

 

 

 

 

 

2012

 

 

 

2013

 

 

 

Apr.01

Balance b/d

 

 

Mar.31

Depreciation

 

 

 

(i) 26,000 (ii) 2,06,250,

 

 

 

(i) 12,000, (ii) 25,000,

 

40,000

 

(iii) 26,250

 

2,58,500

Mar.31

(iii) 3,000

 

 

 

 

 

 

 

Balance c/d

 

 

 

 

 

 

 

(i) 14,000, (ii) 1,81,250,

 

 

 

 

 

 

 

(iii) 23,250

 

2,18,500

 

 

 

2,58,500

 

 

 

2,58,500

 

 

 

 

 

 

 

 

2013

 

 

 

2014

 

 

 

Apr.01

Balance b/d

 

 

Mar.31

Depreciation

 

 

 

(i) 14,000, (ii) 1,81,250,

 

 

 

(i) 12,000, (ii) 25,000,

 

40,000

 

(iii) 23,250

 

2,18,500

 

(iii) 3,000

 

 

 

 

 

 

Mar.31

Balance c/d

 

 

 

 

 

 

 

(i) 2,000, (ii) 1,56,250,

 

 

 

 

 

 

 

(iii) 20,250

 

1,78,500

 

 

 

2,18,500

 

 

 

2,18,500

 

 

 

 

 

 

 

 

2014

 

 

 

2014

 

 

 

Apr.01

Balance c/d

 

 

Apr.01

Bank (ii)

 

20,000

 

(i) 2,000, (ii) 1,56,250,

 

 

Apr.01

Profit and Loss (Loss)

 

1,36,250

 

(iii) 20,250

 

1,78,500

2015

 

 

 

Aug.01

Bank (iv)

 

80,000

Mar.31

Depreciation

 

10,333 

 

 

 

 

 

(i) 2,000, (iii) 3,000, (iv) 5,333

 

 

 

 

 

 

Mar.31 

Balance c/d

 

 

 

 

 

 

 

(iii) 17,250, (iv) 74,667

 

91,917

 

 

 

2,58,500

 

 

 

2,58,500

 

 

 

 

 

 

 

 

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