abcd
25 Points
Joined May 2012
ans 1a)7500000-750000/5=1350000 to be deducted every year on account of depreciation
Ist year:Fixed asset a/c...dr 7500000
To bank a/c 7500000
Fixed asset a/c...dr 1350000
To p&l a/c 1350000
The above entry should be passed for the second year again
This is wat i attempted and i revenuised the government grant.
Ans 1 b)Asset realised=2%*25,00,000=50,0000
pref cred=3%*75,000=2250
unsec cred=3%*(75000+15,00,000)=47,250
=Rs99,500