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Accounts. .depreciation
Book of a shows on 1.1.10 Furniture Rs.20,000. During the year a part of the furniture whose book value on 1.1.10 Is Rs.1,200 Has been exchanged With another furniture by paying additional Rs.500. A Charge depreciation @ 10%P.a. The net amount of the furniture to be shown in Balance sheet will be? . . . Ans is Rs.18,478. Please explain the ans.
Replies (2)
Simple.out of 20,000,claim dep. on 1200 for six months @ 10%.The net amount after dep. is rs.1140.Add 500 to 1140.Claim dep. on 1640 @ 10% for six months.The amount will be equal to 1558.--(1)
Now claim dep. on the remaining of 20,000 i.e.18800(20000-1200) @ 10%p.a.The amount after dep.16920.--(2)
Add (1)+(2)
Thw answer is 18478.
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