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1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account?
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1st April 2010, ABC private limited purchased a machinery for rupees 5...
Machinery Account
Date | Particulars | Amount (Rs.) | Date | Particulars | Amount (Rs.)
--- | --- | --- | --- | --- | ---
1st April 2010 | To Bank (Purchase of machinery) | 56,000 | | |
1st Jan 2013 | By Disposal (Sale of part of machinery) | 5,525 | | |
1st Jan 2013 | By New Machinery (Purchase of new machine) | 8,400 | | |
Calculation
Cost of machinery = Rs. 56,000
National Disposal Account
Date | Particulars | Amount (Rs.) | Date | Particulars | Amount (Rs.)
--- | --- | --- | --- | --- | ---
1st Jan 2013 | To Machinery (Sale of part of machinery) | 5,525 | | |
Calculation
Value of machinery sold = Rs. 9,000
Amount received from sale = Rs. 5,525
Explanation
The given transaction involves the purchase, sale, and replacement of machinery by ABC Private Limited. To record these transactions, we need to create the Machinery Account and the National Disposal Account.
Machinery Account
The Machinery Account is prepared to record the purchase, sale, and replacement of machinery. It shows the cost of machinery and any subsequent changes in its value.
On 1st April 2010, ABC Private Limited purchased a machinery for Rs. 56,000. This amount is debited to the Machinery Account as it is an expense incurred by the business.
On 1st January 2013, a part of the machinery purchased on 1st April 2010 for Rs. 9,000 was sold for Rs. 5,525. The proceeds from the sale are credited to the Machinery Account as it represents the disposal of a part of the machinery.
On the same day, a new machine was purchased for Rs. 8,400. This amount is debited to the Machinery Account as it represents the cost of the new machinery.
National Disposal Account
The National Disposal Account is created to record the sale of a part of the machinery. It shows the proceeds received from the sale and any associated expenses.
On 1st January 2013, the part of the machinery was sold for Rs. 5,525. This amount is credited to the National Disposal Account as it represents the proceeds from the sale.
In conclusion, the Machinery Account shows the cost of the machinery and any subsequent changes in its value, while the National Disposal Account records the sale of a part of the machinery.
Date | Particulars | Amount (Rs.) | Date | Particulars | Amount (Rs.)
--- | --- | --- | --- | --- | ---
1st April 2010 | To Bank (Purchase of machinery) | 56,000 | | |
1st Jan 2013 | By Disposal (Sale of part of machinery) | 5,525 | | |
1st Jan 2013 | By New Machinery (Purchase of new machine) | 8,400 | | |
Calculation
Cost of machinery = Rs. 56,000
National Disposal Account
Date | Particulars | Amount (Rs.) | Date | Particulars | Amount (Rs.)
--- | --- | --- | --- | --- | ---
1st Jan 2013 | To Machinery (Sale of part of machinery) | 5,525 | | |
Calculation
Value of machinery sold = Rs. 9,000
Amount received from sale = Rs. 5,525
Explanation
The given transaction involves the purchase, sale, and replacement of machinery by ABC Private Limited. To record these transactions, we need to create the Machinery Account and the National Disposal Account.
Machinery Account
The Machinery Account is prepared to record the purchase, sale, and replacement of machinery. It shows the cost of machinery and any subsequent changes in its value.
On 1st April 2010, ABC Private Limited purchased a machinery for Rs. 56,000. This amount is debited to the Machinery Account as it is an expense incurred by the business.
On 1st January 2013, a part of the machinery purchased on 1st April 2010 for Rs. 9,000 was sold for Rs. 5,525. The proceeds from the sale are credited to the Machinery Account as it represents the disposal of a part of the machinery.
On the same day, a new machine was purchased for Rs. 8,400. This amount is debited to the Machinery Account as it represents the cost of the new machinery.
National Disposal Account
The National Disposal Account is created to record the sale of a part of the machinery. It shows the proceeds received from the sale and any associated expenses.
On 1st January 2013, the part of the machinery was sold for Rs. 5,525. This amount is credited to the National Disposal Account as it represents the proceeds from the sale.
In conclusion, the Machinery Account shows the cost of the machinery and any subsequent changes in its value, while the National Disposal Account records the sale of a part of the machinery.
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1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account?
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1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about 1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account?.
1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about 1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account?.
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1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account?, a detailed solution for 1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account? has been provided alongside types of 1st April 2010, ABC private limited purchased a machinery for rupees 56000 .on 1st January 2013 a part of this machine purchase on 1st April 2010 for rupees 9000 was sold for rupees 5525 and on the same dad a new new machine was purchased for rupees 8400 visheshan was provided @ 10% per annum on original cost of the machinery show the machinery account and national disposal account? theory, EduRev gives you an
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