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Answer Posted / reshma shah
THE DEPERECIATION OF COMPUTER IS DIFFER FROM THE ONE
COMPUTER TO THE ANOTHER & DEPERECIATION MEAN WEAR & TEAR OF
THE MACHINARY IT MEAN IT IS BASED ON THE TYPE OF THE
MACHINE if the machine is so old than the buyer may charged
the less amt on it.
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HOW MANY ACCOUNTING STANDARDS ARE PREVAILING IN INDIA AS DECLARED BY ICAI
hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units
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Aravinda Financiers sanctioned a loan of Rs 250000. A cheque was sent after adjusting processing charges Rs 247250 Pass necessary entry
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