Prepare Furniture Account for the year ended 31st March , 2019 in the books of a social club under the following alternative cases:
Case 1. Furniture as on 1st April ,2018 -Rs. 2,20,000, Furniture (having book value as on 1st April , 2018-Rs. 20,000) sold at a gain (profit) of 20% on 31st December , 2018.
Furniture purchased on 1st October 2018 for Rs. 1,00,000 , Charge depreciation `"@" 10%` p.a. on furniture.
Case 2. Furniture as on 31st March , 2018-Rs. 4,40,000, Furniture (having book value as on 1st April , 2018 -Rs. 40,000) sold at a loss of 20% on 31st December ,2018. Furniture is to be depreciated `"@"10%` p.a. furniture costing Rs.3,00,000 was also purchased on 1st October , 2018.

Answer

N/a

Explanation