On 1st April, 2015, furniture costing Rs 55,000 was purchased. It is estima
Channel: Doubtnut
Date: 29/03/2020

On 1st April, 2015, furniture costing Rs 55,000 was purchased. It is estimated that its life is 10 years at the end of which it will be sold for Rs 5,000. Additions are made on 1st April, 2016 and 1st October, 2018 to the value of Rs 9,500 and Rs 8,400 (Residual values Rs 500 and Rs 400 respectively). Show the Furniture Account for the first four years, if Depreciation is written off according to the Straight Line Method.