On 1st April2020 balances appeared in the books of Ram&Sons.Machinery

1.	On 1st April2020 balances appeared in the books of Ram&Sons.Machinery Rs.7,00,000Provision for depreciation Rs.3,00,000On 1st July 2020 a machinery which had cost Rs.50,000 on July12018 was soldfor Rs.43,000. On the same date new machinery purchased for Rs.20,000. ShowMachinery account, machinery disposal account and provision for depreciationif depreciation is charged @10% p.a. on straight line method.
Answer» 2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M) (1) Goods A/C (2) Wages A/C (3) Loan A/C (4) Debtors A/C (5) CREDITORS A/C (6) FURNITURE A/C (7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C (10) Discount A/C (11) Rent Received A/c (12) BUILDING A/C CANAi

On 1st April2020 balances appeared in the books of Ram&Sons.Machinery Rs.7,00,000Provision for depreciation Rs.3,00,000On 1st July 2020 a machinery which had cost Rs.50,000 on July12018 was soldfor Rs.43,000. On the same date new machinery purchased for Rs.20,000. ShowMachinery account, machinery disposal account and provision for depreciationif depreciation is charged @10% p.a. on straight line method.

Answer»

2 (C): Classify the Accounts into Assets, Liabilities, Income, Expenditure and Capital (3M)

(1) Goods A/C

(2) Wages A/C

(3) Loan A/C

(4) Debtors A/C

(5) CREDITORS A/C

(6) FURNITURE A/C

(7) Bills Receivable A/C (8) Meena's Capital A/c (9) Drawing A/C

(10) Discount A/C

(11) Rent Received A/c (12) BUILDING A/C

CANAi

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