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Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will be
- a)Rs 18,508
- b)Rs 20,440
- c)Rs 18,396
- d)Rs 18,478
Correct answer is option 'D'. Can you explain this answer?
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Most Upvoted Answer
Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During ...
Solution:
Calculation of Depreciation:
Depreciation for the year = 10% of Rs. 20,000 = Rs. 2,000
Calculation of Adjusted Book Value:
Book value of furniture on 1st January 2010 = Rs. 20,000 - Rs. 2,000 = Rs. 18,000
Book value of exchanged furniture = Rs. 1,200 - (10% of Rs. 1,200) = Rs. 1,080
Cost of new furniture = Rs. 1,080 + Rs. 500 = Rs. 1,580
Adjusted book value of furniture = Rs. 18,000 - Rs. 1,080 + Rs. 1,580 = Rs. 18,500
Final Answer:
The net amount of the furniture to be shown in the balance sheet will be Rs. 18,478.
Calculation of Depreciation:
Depreciation for the year = 10% of Rs. 20,000 = Rs. 2,000
Calculation of Adjusted Book Value:
Book value of furniture on 1st January 2010 = Rs. 20,000 - Rs. 2,000 = Rs. 18,000
Book value of exchanged furniture = Rs. 1,200 - (10% of Rs. 1,200) = Rs. 1,080
Cost of new furniture = Rs. 1,080 + Rs. 500 = Rs. 1,580
Adjusted book value of furniture = Rs. 18,000 - Rs. 1,080 + Rs. 1,580 = Rs. 18,500
Final Answer:
The net amount of the furniture to be shown in the balance sheet will be Rs. 18,478.
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Community Answer
Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During ...
For purchase of new asset the entry would be (Para 11, AS 10) New Furniture A/c Dr. 1700 To Cash A/c 500 To Old furniture 1200 Assuming that this transaction took place on 1st jan 2006 depreciation for the whole year will be: 10% on (Rs. 20000-1200+1700) = 2050 Net amount of furniture to be shown in closing B/S will be: opening bal 20000 less: sold 1200 add: purchased 1700 20500 less: depreciation on above @ 10% 2050 net closing 18450
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Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer?
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Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer?.
Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer?.
Solutions for Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation.
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Here you can find the meaning of Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Books of Ekta, shows on 1st January 2010 furniture Rs. 20,000. During the year a part of the furniture whose book value on 1st January 2010 is Rs. 1,200 has been exchanged with another furniture by paying additional Rs. 500. Ekta charge depreciation @ 10% p.a. The net amount of the furniture to be shown in the balance sheet will bea)Rs 18,508b)Rs 20,440c)Rs 18,396d)Rs 18,478Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice CA Foundation tests.
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