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Depreciation

Paper 2003
Q No. 3


Answers: 1 (a) straight line method, Balance b/d as on Jan, 2003: Rs. 238750
(b) Diminishing Balance Method, Balance b/d as on Jan, 2003: Rs. 172800
2 Diminishing Balance Method is appropriate for the company.
3 As above.

Paper 2005
Q No. 3

Answers: Balance B/d of machine A/c as on jan, 2005: Rs. 78301

Paper 2006
Q No. 5

Theoretical Question...

Paper 2011
Q No. 9

Answers: (a) Cash(dr)................................19500
Accumulated Depreciation(dr).....8000
Loss on Sale(dr)......................2500
Tractor A/c (cr)......................................30,000
__________________________________________________ _____________

(b) New Truck a/c (Dr).....................34000
Accumulated Depreciation(Dr)......12000
Cash(Cr)....................................16000
Old Tractor(Cr)............................30,000
__________________________________________________ _________

(c) Removing Service Charges(Dr)..............10,000
Tractor a/c(Cr)............................................. .........10,000


Paper 2012
Q No. 9


Answers: Land a/c (Dr)........ ......10,00,000
Office Equipment(Dr.).....50,00,000
Machine A/c..... (Dr.).....600,000
Cash(Cr.)......................6600,000
_______________________________

Dec, 31,2004) Depreciation Exp(Dr.)..........185000
Accumulated Depreciation office Equipment(Cr.)......125000
Accumu Dep (Machine)(Cr)..................................60, 000
_____________________________

Profit and Loss a/c(Dr.)..........185000
Depreciation Expense(Cr).................185000
_________________________________

Dec, 31, 2005) Depreciation Exp(Dr.)..........185000
Accumulated Depreciation office Equipment(Cr.)......125000
Accumu Dep (Machine)(Cr)..................................60, 000
_____________________________

Profit and Loss a/c(Dr.)..........185000
Depreciation Expense(Cr).................185000
_________________________________

April,1) Equipment a/c (Dr.)..........10,00,000
Machinery a/c (dr.)...........50000
Cash(Cr).....................1050000
_____________________________

July, 15) Repair Expense a/c(Dr.)..........5000
Cash(Cr)............................5000
_________________________________

Sep, 30) Cash(Dr.)................................82000
Accumulated Depreciation (dr)....27500
Machinery a/c(Cr)............100,000
Gain on Sale(cr)...............9500
_____________________________

Dec,31 New Truck a/c(Dr.)...........................117000
Accumulated Depreciation(Dr)....10000
Loss on Exchange(dr)................8000
Cash(cr).................85000
Old Machine(cr).......50000
_________________________________


Paper 2013
Q No. 8

Theoretical...


Rectifications are welcome...
__________________
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