VanithaCulture Club - Karma Chameleon302, 403,924 viewscultureclubVEvoultual 01 20 | 1) 2011- മുരരിൽ മ ത ല

Excel Computers has a debit balance of Rs. 50,000 (original cost Rs. 1,20,000) in computers account on April 01, 2010. On July 01, 2010 it purchased another computer costing Rs. 2,50,000. One more computer was purchased on January 01, 2011 for Rs. 30,000. On April 01, 2014 the computer which has purchased on July 01, 2010 became obselete and was sold for Rs. 20,000. A new version of the IBM computer was purchased on August 01, 2014 for Rs. 80,000. Show Computers account in the books of Excel Computers for the years ended on March 31,2011,2012,2013,2014 and 2015. The computer id deperciated on @ 10 p.a. on straight line method basis.

Carriage Transport Company purchased 5 trucks at the cost of Rs. 2,00,000 each on on April 01, 2011. The company writes off depreciation @ 20% p.a. on original cost and closes its books on December 31, every year. On October 01, 2013, one of the trucks is involved in an accident and is completely destroyed. Insurance company has agreed to pay Rs. 70,000 in full settelment of the calim. On the same date the company purchased a second hand truck for Rs. 1,00,000 and spent Rs. 20,000 on its overhauling. Prepare truck account and provision for depreciation account for the three years ended on December 31, 2013. Also give truck account if truck disposal account is prepared.

The Balance Sheet of W and R who shared profits in the ratio of 3 : 2 was as follows on January. 01, 2015. On this date B was admitted as a partner on the following conditions: ltbegt 1. He was to get 4/15 share of profit. 2. He had to bring in Rs 30,000 as his capital. 3. He would pay cash for goodwill which would be based on 2^(½) years purchase of the profits of the past four years. 4. W and R would withdraw half the amount of goodwill premium brought by B. 5. The assets would be revalued as: Sundry Debtors at book value less a provision of 5%, Stock at Rs 20,000, Plant and Machinery at Rs 40,000, and Patents at Rs 12,000. 6. Liabilities were valued at Rs 23,000, one bill for goods purchased having been omitted from books. 7. Profit for the past four years were : Profit for the past four years were: {:(2011,15000,2013,14000),(2012,20000,2014,17000):} Given necessary journal entries and ledger accounts to record the above, and prepare the Balance Sheet after B's admission.