A Noida based Construction Company owns 5 cranes and the value of this asset in its books
Question:
A Noida based Construction Company owns 5 cranes and the value of this asset in its books on April 01, 2017 is ₹ 40,00,000. On October 01, 2017 it sold one of its cranes whose value was ₹ 5,00,000 on April 01, 2017 at a 10% profit. On the same day it purchased 2 cranes for ₹ 4,50,000 each.
Prepare cranes account. It closes the books on December 31 and provides for depreciation on 10% written down value.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
To prepare the Cranes Account we need to account for the initial value of the cranes the sale of one ...View the full answer
Answered By
User l_917591
As a Business Management graduate from Moi University, I had the opportunity to work as a tutor for undergraduate students in the same field. This experience allowed me to apply the theoretical knowledge I had gained in a practical setting, while also honing my teaching and communication skills.
As a tutor, I was responsible for conducting tutorial sessions, grading assignments and exams, and providing feedback and support to my students. I also assisted with the preparation of course materials and collaborated with other tutors and professors to ensure consistency in teaching and assessment.
0 Reviews
10+ Question Solved
Related Book For 
Accountancy Financial Accounting Part 1 Textbook For Class 11
ISBN: 9788174505071
1st Edition
Authors: NCERT
Question Posted:
