books of ram shows on 1jan 2006 furniture rs20000.during the year a part of the furniture whose book value on 1st jan 2006 is rs 1200 has been exchanged with another furniture by paying additional rs500 .Ram charge deprication @ 10%p.a.The net amount of the furniture to be showns in the balance sheet will be.......Answer is RS18478 who to do this question can u plz help me
3 Replies
P-A-W-A-N
(TAX - MANAGER AT GURGAON)
(541 Points)
Replied 30 November 2009
in this no sale it is case of exchange so no value in credit side except depriciation
calculated on value 20000+500
20500*10=2050(depriciation)
wdv =18450
your answer may be wrong
nikhil
((CA Final) Article)
(363 Points)
Replied 30 November 2009
question paper main toh yahi answer hai per answer nahi aata jane kaise kaise question de dete hai ye cpt wale :(
CA Himanshu Bansal
(Risk Manager)
(2345 Points)
Replied 30 November 2009
18478 : (The answer May be wrong)
Opening : 20000
Add: Purchses : 500
Total : 20500
Less : Dep : 2050
Net Amount of Furniture : 18450.
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