Class name Subject Book title Chapter number Content Created at
Class XI Accountancy Financial Accounting-I 7 A/c Dr. (with the accumulated balance in To Asset Disposal A/c provision for depreciation account) 3. Bank A/c Dr. (with the net sales proceeds) To...
Class XI Accountancy Financial Accounting-I 7 of 10% p.a. using straight line method and accumulated in provision for depreciation acount. On January 01, 2016, one truck was sold for ` 15,000. ...
Class XI Accountancy Financial Accounting-I 7 c/d 16,000 Dec. 31 Depreciation 8,0002 18,000 18,000 2017 2017 Jan. 01 Truck Disposal 5,000 Jan. 01 Balance b/d 16,000 Dec. 31 Balance c/d 18,750 D...
Class XI Accountancy Financial Accounting-I 7 Particulars J.F. Amount ` ` 2015 2015 Apr. 01 Balance b/d 50,000 Oct.01 Bank 5,000 Oct. 01 Bank 25,000 2016 Provision for 8,0001 March 31 depreciat...
Class XI Accountancy Financial Accounting-I 7 J.F. Amount ` ` 2015 2015 Oct.01 Furniture 20,000 Oct.01 Provision for Depreciation 8,000 Bank 5,000 Profit & Loss (Loss on sale) 7,000 20,000 20, ...
Class XI Accountancy Financial Accounting-I 7 Jul. 31 Plant 2,15,000 Jul. 31 Accumulated 1,17,763 depreciation Insurance Co. 50,000 Profit & Loss 47,237 5 (Loss on sale) 2,15,000 2,15,000 Worki...
Class XI Accountancy Financial Accounting-I 7 the machine to make it more efficient at a cost of ` 80,000. This amount is to be depreciated @ 20% on straight line basis. Routine maintenance exp...
Class XI Accountancy Financial Accounting-I 7 for Reprint 2026-27 Depreciation, Provisions and Reserves 261 ` 20,000 due to excessive wear and tear. Routine maintenance expenses during the year...
Class XI Accountancy Financial Accounting-I 7 repairs and renewals may also be created to provide for expected repair and renewal of the fixed assets. Examples of provisions are : • Provision f...
Class XI Accountancy Financial Accounting-I 7 not sure about the collection of full amount from them. In fact, as a matter of business experience, some percentage of such debtors are not likely...
Class XI Accountancy Financial Accounting-I 7 A/c Dr. 6,000 1 To Provision for doubtful debts a/c 6,0001 (For creating provision for doubtful debts) Working Notes Provision for doubtful debts @...
Class XI Accountancy Financial Accounting-I 7 law. 3. Presentation in balance sheet:Provisionisshowneither(i)bywayofdeduction from the item on the asset side for which it is created, or (ii) on...
Class XI Accountancy Financial Accounting-I 7 of provision is Generally, creation of a Reserve compulsion necessary to ascertain true is at the discretion of the manaand fair profit or loss in ...
Class XI Accountancy Financial Accounting-I 7 the profit out of which they are created. (a) Revenue reserves : Revenue reserves are created from revenue profits which arise out of the normal op...
Class XI Accountancy Financial Accounting-I 7 purpose including distribution of dividend. Whereas a capital reserve can be utilised for specific purposes as provided in the law in force, e.g., ...
Class XI Accountancy Financial Accounting-I 7 accounting. The amount so set aside may be meant for the purpose of : • Meeting a future contingency • Strengthening the general financial position...
Class XI Accountancy Financial Accounting-I 7 of ........... (iii) Provision is a ........... against profit. (iv) Reserve created for maintaining a stable rate of dividend is termed as...........
Class XI Accountancy Financial Accounting-I 7 the financial position of the business. 7. Types of Reserves : Reserves may be — • General reserve and specific reserve; • Revenue reserve and capi...
Class XI Accountancy Financial Accounting-I 7 explain different types of reserves in details. 6. What are ‘provisions’. How are they created? Give accounting treatment in case of provision for ...
Class XI Accountancy Financial Accounting-I 7 to be incurred to recover the salvage value of ` 6,000. Prepare machine account and Provision for depreciation account for the first three years ch...
Class XI Accountancy Financial Accounting-I 7 01.01.15 ` 5,87,334). 6. Azad Ltd. purchased furniture on October 01, 2014 for ` 4,50,000. On March 01, 2015 it purchased another furniture for ` 3...
Class XI Accountancy Financial Accounting-I 7 5,000. Balance of machine account as on 31.12.15 ` 19,00,000. Balance of Provision for depreciation account as on 31.12.15 ` 4,90,000). 9. M/s. Exc...
Class XI Accountancy Financial Accounting-I 7 on 31.12.13 `9,20,000). 11. Saraswati Ltd. purchased a machinery costing` 10,00,000 on January 01, 2011. A new machinery was purchased on 01 May, 2...
Class XI Accountancy Financial Accounting-I 7 January 01, 2013, first machinery become useless due to technical changes. This machinery was sold for ` 1,00,000. prepare machinery account for 4 ...
Class XI Accountancy Financial Accounting-I 7 one of its cranes whose value was ` 5,00,000 on April 01, 2017 at a 10% profit. On the same day it purchased 2 cranes for ` 4,50,000 each. Prepare ...