(a) The Machinery Account of a Factory showed a balance of 95 Lakhs on 1st April,...

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(a) The Machinery Account of a Factory showed a balance of 95 Lakhs on 1st April, 2020. The Books of Accounts Depreciation is written off of the Factory are closed on 31st March every year and @ 10% per annum under the Diminishing Balance Method. On 1st September, 2020 a new machine was acquired at a cost of 14 Lakhs and 44,600 was incurred on the same day as installation charges for erecting the machine. On 1st September, 2020 a machine which had cost 21,87,000 on 1st April, 2018 was sold for 3,75,000. Another machine which had cost 21,85,000 on 1st April, 2019 was scrapped on 1st September, 2020 and it realized nothing. Prepare Machinery Account for the year ended 31st March, 2021. Allow the same rate of depreciation as in the past and calculate depreciation to the nearest multiple of a rupee. Also show all the necessary working notes. (10 Marks) (b) Zed Enterprises furnishes the following information for the year ended 31st March, 2021. Amount (3) 28,00,000 1,38,40,000 28,00,000 2,08,80,000 Particulars Value of Stock as on 1st April, 2020 Purchases during the year Manufacturing Expenses during the year Sales during the year The following further information is also provided: (i) At the time of valuing stock on 31st March, 2020 a sum of 2,40,000 was written off for a particular item which was originally purchased for 8,00,000. This item was sold during the year ended 31st March, 2021 for ₹6,40,000. (ii) Except for the above transaction, the rate of gross profit during the year was 1/3rd on cost. Ascertain the value of Stock as on 31st March, 2021. (5 Marks) (c) From the following particulars, prepare a Bank Reconciliation Statement on 31st March 2021. Particulars Bank balance as per Pass Book Bills discounted dishonored not recorded in Cash Book Cheque received entered twice in Cash Book Bank charges entered twice in Cash Book Insurance premium paid directly by Bank under-standing instruction Cheque issued but not presented to Bank for payment Amount (3) 25,00,000 12,50,000 25,000 5,000 1,50,000 12,50,000 (a) The Machinery Account of a Factory showed a balance of 95 Lakhs on 1st April, 2020. The Books of Accounts Depreciation is written off of the Factory are closed on 31st March every year and @ 10% per annum under the Diminishing Balance Method. On 1st September, 2020 a new machine was acquired at a cost of 14 Lakhs and 44,600 was incurred on the same day as installation charges for erecting the machine. On 1st September, 2020 a machine which had cost 21,87,000 on 1st April, 2018 was sold for 3,75,000. Another machine which had cost 21,85,000 on 1st April, 2019 was scrapped on 1st September, 2020 and it realized nothing. Prepare Machinery Account for the year ended 31st March, 2021. Allow the same rate of depreciation as in the past and calculate depreciation to the nearest multiple of a rupee. Also show all the necessary working notes. (10 Marks) (b) Zed Enterprises furnishes the following information for the year ended 31st March, 2021. Amount (3) 28,00,000 1,38,40,000 28,00,000 2,08,80,000 Particulars Value of Stock as on 1st April, 2020 Purchases during the year Manufacturing Expenses during the year Sales during the year The following further information is also provided: (i) At the time of valuing stock on 31st March, 2020 a sum of 2,40,000 was written off for a particular item which was originally purchased for 8,00,000. This item was sold during the year ended 31st March, 2021 for ₹6,40,000. (ii) Except for the above transaction, the rate of gross profit during the year was 1/3rd on cost. Ascertain the value of Stock as on 31st March, 2021. (5 Marks) (c) From the following particulars, prepare a Bank Reconciliation Statement on 31st March 2021. Particulars Bank balance as per Pass Book Bills discounted dishonored not recorded in Cash Book Cheque received entered twice in Cash Book Bank charges entered twice in Cash Book Insurance premium paid directly by Bank under-standing instruction Cheque issued but not presented to Bank for payment Amount (3) 25,00,000 12,50,000 25,000 5,000 1,50,000 12,50,000

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