CA Foundation Question  >  Glass, Cutlery etc.: Balance on 01.01.2004 is... Save
 Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January. Closing Balance in Glass, Cutlery A/c = _________.
  • a)
    Rs. 18,000
  • b)
    Rs. 18,500
  • c)
    Rs. 19,800
  • d)
    Rs. 20,400
Correct answer is option 'C'. Can you explain this answer?

Related Test

Answers

Chandan Sethi
Jun 15, 2018
Related Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer?
On newly purchased glass & cutlery (machinery) 16000-3200=12800(balance) tricky question start now half of the machinery (14000) was to be completely written off because of its life completed and for the next half (14000) let cost be x from which 1/5 is written off & the remaining (14000) is 4/5 part of x (cost) then the cost = 17500 now written off 3/5 from the cost (1/5 + 2/5 ) the written off value is 10500 the remaining value is 17500-10500= 7000 now add 7000+12800 =19800

View courses related to this question
Explore CA Foundation courses
Explore CA Foundation courses
View courses related to this question
1 Crore+ students have signed up on EduRev. Have you?

Similar CA Foundation Doubts

  • Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, e... more

  • Glass, Cutlery etc. : Balance on 01.01.2004 is Rs 28,000. Glass, Cutlery, e... more

  • Glass, Cutlery etc. : Balance on 01.01.2004 is Rs 28,000. Glass, Cutlery, e... more

  • Glass, cutlery etc.: balance on 01.01.2004 is rs. 28,000. glass, cutlery, e... more

  • 1 Answer

  • From the following particulars for the year 2014 and 2015 determine the val... more

Question Description
Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2022 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2022 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer?.
Solutions for Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Glass, Cutlery etc.: Balance on 01.01.2004 is Rs. 28,000. Glass, Cutlery, etc. purchased during the year Rs. 16,000. Depreciation is to be charged on the above assets as follows- 1/5th of their values is to be written off in the year of purchase and 2/5th in each of the next 2 years. Of the stock of Glass, Cutlery, etc. as on 01.01.2004, ½ was one year old and ½ was 2 years old. Purchases are made on 1st January.Closing Balance in Glass, Cutlery A/c = _________.a)Rs. 18,000b)Rs. 18,500c)Rs. 19,800d)Rs. 20,400Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
On newly purchased glass & cutlery (machinery) 16000-3200=12800(balance) tricky question start now half of the machinery (14000) was to be completely written off because of its life completed and for the next half (14000) let cost be x from which 1/5 is written off & the remaining (14000) is 4/5 part of x (cost) then the cost = 17500 now written off 3/5 from the cost (1/5 + 2/5 ) the written off value is 10500 the remaining value is 17500-10500= 7000 now add 7000+12800 =19800