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i have puchase a vehicle on 1st of jan 2006 for Rs 40000
and charegd depriciation @25% P.A and sold vehicle on 31st
of dec,2009 RS 10000 what are the general entries related
to this question.
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Answer / lpn
Value of Vehicle as on 1/01/2006 Rs. 40000/-
Ist Year depreciation Rs. 10000/-
IInd Year Deprection Rs. 7500/-
IIIrd Year Depreciation Rs. 5625/-
-------
Total deprectition for 3 years 23125/-
Value of Vehcile as on dec 2009 16875/-
Book entry as on 31/12/2009 after sold out of Rs. 10000/-
Cash A/c Dr. 10000/-
Loss on Sales Dr. 6875/-
To Vehicle a/c. Cr. 16875/-
(Being vehicle sold out as on 31/12/2009)
| Is This Answer Correct ? | 15 Yes | 3 No |
Answer / mohammed nayeemuddin
i dont no it is correct are wrong pls...vote for it
purchases: 1 st jan 2006
By vehicle a/c dr - 40000
to cash/bank a/c cr - 40000
depriciation : 31st dec 2009 shows
By depriciation a/c dr -30000
to vehicle a/c cr - 30000
sale of vehicle : on 31cdec 2009
By cash/bank a/c dr - 10000
By Depriciation a/c dr - 30000
To Asset a/c cr - 40000
| Is This Answer Correct ? | 7 Yes | 3 No |
Answer / anand
Value of Vehicle as on 1/01/2006 Rs. 40000/-
Ist Year depreciation as on 31/12/06 Rs. 10000/-
IInd Year Deprection as on 31/12/07 Rs. 7500/-
IIIrd Year Depreciation as on31//12/08 Rs. 5625/-
Iv Th Year Depreciation as on31//12/09 Rs 4219/-
-------
Total deprectition for 3 years 27344/-
Value of Vehcile as on dec 2009 12656/-
Book entry as on 31/12/2009 after sold out of Rs. 10000/-
Cash A/c Dr. 10000/-
Loss on Sales Dr. 2656/-
To Vehicle a/c. Cr. 16875/-
(Being vehicle sold out as on 31/12/2009
| Is This Answer Correct ? | 0 Yes | 1 No |
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