Byju's AnswerStandard IXMathematicsComputation of Income TaxOn 1st April,...QuestionOn 1st April, 2015, furniture costing ₹ 55,000 was purchased. It is estimated that its life is 10 years at the end of which it will be sold for ₹ 5,000. Additions are made on 1st April 2016 and 1st October, 2018 to the value of ₹ 9,500 and ₹ 8,400 (Residual values ₹ 500 and ₹ 400 respectively). Show the Furniture Account for the first four years, if Depreciation is written off according to the Straight Line Method.SolutionFurniture AccountDr.Cr.DateParticularsJ.F.Amount(₹)DateParticularsJ.F.Amount(₹)20152016April 01Bank (F1)55,000March 31Depreciation (F1)5,000March 31Balance c/d (F1)50,00055,00055,00020162017April 01Balance b/d (F1)50,000March 31DepreciationApril 01Bank (F2)9,500F15,000F29005,900March 31Balance c/dF145,000F28,60053,60059,50059,50020172018April 01Balance b/dMarch 31DepreciationF145,000F15,000F28,60053,600F29005,900March 31Balance c/d

26 Enter the following transactions in the Purchases Book of Bharat Furniture House, Delhi: Feb 3 Bought goods from Rajat Furniture House, Delhi vide Invoice No. 053 25 Chairs @ 400 each 20 Tables @ 800 each Less: 10% Trade Discount Feb 9 Purchased from Jasmine Furniture's, Rohtak 5 Sofa sets @ 4,000 each 5 Centre Tables @ 2,000 each Less: 15% Trade Discount. Feb 21 Purchased delivery van for ₹1,50,000 from Mahindra Sons on two month credit. Feb 25 Bought goods from Goyal Furniture House vide cash memo no. 103 30 Almirahs @ 5,000 each.

Office furniture was bought on 1st April 2015 for Ksh. 800,000. It isassumed that the furniture depreciates at the rate of 15% p.a. Youare required to clearly show the DEPRECIATION AMOUNTS, NETBOOK VALUES and also the BALANCE SHEET Extracts for eachof the years 2015, 2016 and 2017 using EACH of the methodsbelow separately:-I) Straight – Line Method (4 marks)II) Reducing – Balance Method

Provide depreciation for equipment and furniture on straight-line basis. Their usefullives assume 5 years and residual value at the end of useful lives will be $5,000 each.

22) Following information are provided: [6]Budget Head Annual Budget Expenditure upto Falgun Expenditure of ChaitraSalary 1,80,000 1,20,000 15,000Fuel 60,000 40,000 5,000Office materials 36,000 24,000 3,000Miscellaneous expenditure 48,000 32,000 4,000Furniture 24,000 16,000 2,000Machinery 96,000 70,000  Additional information:Revolving fund received Rs. 3,50,000.Petty Cash balance Rs 1,000.Unclear furniture advance Rs 2,000.Required: Statement of Expenditure for the month of chaitra.

El Tapitio purchased restaurant furniture on September 1, 2024, for $49,000. Residual value at the end of an estimated 10-year service life is expected to be $6,400. Calculate depreciation expense for 2024 and 2025, using the straight-line method and assuming a December 31 year-end. (Do not round intermediate calculations.)