CBSE Class 11 Accountancy Revision Worksheet Set 03

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Subject : Accountancy

CLASS- XI worksheet No. 5 Date:

1. Show how these items will appear in the final account: A machine costing Rs.200000 was purchased on 1st July 2004. Wages Rs.10000 for its erection have been debited to wages account. Provide depreciation on plant and machinery @ 10% p.a.

2. On January 1,2000 machineries were purchased by X for Rs.50000. on 1st  july,2001additions were made to the extent of Rs.10000. on April 1, 2002,further additions were made to the extent of Rs.6400. on Rs.6000 . Depreciation is charged at 10% p.a. on original cost. Show the machinery account for the years from 2000 to 2003 in the books of X.

3. Classify the following into capital and revenue:

1. Rs.1000 paid for removal of stock to another location for sale.

2. Rs.2000 spent on demolition of a building to construct a bigger building on the same site.

3. Rs.1000 spent in defending a legal suit.

4. Rs.25000 spent in searching for a new product, but it did not result in any success.

5. Rs.2000 spent on painting a factory.

6. Legal expenses incurred in raising a debenture loan.

7. Profit realized on the sale of investments

8. Labor welfare expenses

9. A sum of Rs.10000 spent for alteration of existing plant incorporating thereby new devices which could effect substantial reduction in power consumption.

10. Imported goods worth Rs.25000 confiscated by Customs Authorities for non disclosure of material facts.

11. Compensation of Rs.2.50 crores paid to workers, who opted for voluntary retirement.

12. New tyres for a delivery van

13. Receipt of commission by a firm of brokers.

14. The cost of re-painting the exterior of office premises

15. Purchase of patent rights Rs.5000 and renewal fees for the next year Rs.250.

16. Repairs to furniture Rs.500

Please refer to attached file for CBSE Class 11 Accountancy Worksheet - Revision Worksheet (4)