[ISC] Q 7, 8 Solution Depreciation TS Grewal Class 11 (2026-27)
Solution of Question number 7 and 8 Depreciation TS Grewal class 11 ISC 2026-27.
Q. 7. On 1st April, 2019, Vijay & Co. Purchased a machinery for ₹ 3,00,000 and incurred ₹ 21,000 as freight and insurance, ₹ 3,000 as carriage inwards and ₹ 6,000 as installation charges. It has estimated that the machinery will have a scrap value of ₹ 30,000 at the end of the estimated useful life of four years.
Prepare Machinery Account for the first four financial years ended 31st March according to the Straight Line Method.
Solution:-
Q. 8. On 1st April, 2019, Sanjeev Bros. purchased office furniture for ₹ 55,000. It is estimated to have useful life of 10 years at the end of which it can be sold for ₹ 5,000. Additions were made on 1st April, 2020 and 1st October, 2022 costing ₹ 9,500 and ₹ 8,400 (Residual values ₹ 500 and ₹ 400 respectively).
Prepare Furniture Account for the first four years ended 31st March, if depreciation is written off according to the Straight Line Method.
Solution:-
