March . Give the truck account from to . (Ans: Loss on Ist Truck Insurance claim Rs. , , .
Loss on IInd Truck Rs. , , . Balance of Truck account as on . .
Rs. , , ). . A Noida based Construction Company owns cranes and the value of this asset in its books on April , is Rs.
, , . On October , it sold one of its cranes whose value was Rs. , , on April , at a % profit. On the same day it purchased cranes for Rs.
, , each. Prepare cranes account. It closes the books on December and provides for depreciation on % written down value. (Ans: Profit on sale of crane Rs.
, . Balance of Cranes account as on . . Rs.
,15000). . Shri Krishan Manufacturing Company purchased machines for Rs. , each on July , .
On October , , one of the machines got destroyed by fire and an insurance claim of Rs. , was admitted by the company. On the same date another machine is purchased by the company for Rs. , , .
The company writes off % p.a. depreciation on written down value basis. The company maintains the calendar year as its financial year. Prepare the machinery account from to .
(Ans: Loss on settle of insurance claim Rs. , . Balance of Machine account as on . .
Rs. , , ). . On January , , a Limited Company purchased machinery for Rs.
, , . Depreciation is provided @ % p.a. on diminishing balance method. On March , , one fourth of machinery was damaged by fire and Rs.
, were received from the insurance company in full settlement. On September , another machinery was purchased by the company for Rs. , , . Write up the machinery account from to .
Books are closed on December , every year. (Ans: Loss on settle of insurance claim Rs. , . Balance of Machine account as on .
A Plant was purchased on 1st July, at a cost of Rs. , , and Rs. , were spent on its