Solution of Q 13 Depreciation TS Grewal Class 11 (2023-24) CBSE
Step-by-step solution of Question 13, Chapter 15 Depreciation, TS Grewal Class 11 Accountancy 2023-24 for the CBSE Board.
Question 13
On 1st July, 2019, OM Ltd. purchases second-hand machinery for ₹ 20,000 and spends ₹ 3,000 on reconditioning and installing it. On 1st January, 2020, the firm purchases new machinery worth ₹ 12,000. On 30th June, 2021, the machinery purchased on 1st January, 2020, was sold for ₹ 8,000 and on 1st July, 2021, a fresh plant was installed. Payments for this plant was to be made as follows: 1st July, 2021 ₹ 5,000; 30th June, 2022 ₹ 6,000; 30th June, 2023 ₹ 5,500.
Payments in 2022 and 2023 include interest of ₹ 1,000 and ₹ 500 respectively. The company writes off 10% p.a. on the original cost. The accounts are closed every year on 31st March. Show the Machinery Account for the year ended 31st March, 2022.
Solution
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About this solution
This is Chapter 15 Depreciation of TS Grewal Edition 2023-24.
Written by Vijay Adarsh, teaching commerce since 2003 to Class 11, Class 12, B.Com, CA, CS and CMA students.
We have solved all the practical questions in this book and explained them Step by Step in detail with clear working notes.
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