Page 102 - VIRANSH COACHING CLASSES
P. 102
Working Notes :
1) Calculation of Depreciation on Books `
a) 10 % Depreciation on ` 6,50,500
6,50,500 × 10 = 65,050 65,050
1 100
b) 10 % Depreciation on ` 1,00,000
for 6 months
10,000 1 6
× × 5,000
1 100 12
Total Depreciation 70,050
2) Calculation of Depreciation of Furniture `
a) 8.5 % Depreciation on ` 50,000
8.5
50,000 × 100 = 4,250 4,250
b) 8.5 % Depreciation on ` 30,000
for 6 months
30,000 × 8.5 × 9 = 1,912 1,912
100 12
Total Depreciation 6,162
12 : Following is the Receipts and Payments Account of Chamber of Commerce, Beed for
the year ended 31 March 2018 and same additional information. You are required
st
to prepare Income and Expenditure Account for the year ended 31 March 2018 and
st
Balance Sheet as on that date.
Receipts and Payments Account
for the year ended 31 March 2018
st
Dr. Cr.
Receipts Amount Payments Amount
` `
To Balance b/d 22,250 By Insurance 10,000
(Cash at Bank) By Printing & Stationery 4,000
To Subscription 72,000 By Books 30,000
(including ` 8,000 for 2016 - 17) By Computers 60,000
To Sale of Machinery 20,000 By Traveling Expenses 4,000
(Book value ` 25,000) By Furniture 62,000
To Donations 55,000 By Balance c/d 5,250
To Admission fees (Revenue) 6,000 (Cash at Bank)
1,75,250 1,75,250
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