It is wrong
Question
A tenant pays rupee 8500as rent for one quarter of year How much does he has to pay for the whole year if the rent per month remain same?
Accounts Tax GST
March 17, 2021, 3:54 p.m.
Answer
Explain the relevant accounting assumptions or principle which is an exception to full disclosure principles
Maths
March 17, 2021, 3:09 p.m.
Answer
If the Cartesian of a line are x-5/3=y 4/7=z-6/2 then find a vector equation for the line
Maths
March 17, 2021, 1:03 p.m.
Answer
If the discriminant is dash then th roots of th quadratic equation are distinxt and real ( negative positive and zero)
Accounts Tax GST
March 17, 2021, 10:18 a.m.
Answer
5(c) SHEENA Ltd acquired machinery on lease from BHARAT Ltd on the following terms:
Lease Term 5 Years,Fair Value of Machinery (useful life 15 years) ₹ 30 lakhs,Annual Lease Rental payable at ₹ 5 lakhs, ₹ 4
lakhs, ₹ 3 lakhs, ₹ 2 lakhs, ₹ 1 lakh at the end of each year ,
Implicit Rate of Return (IRR) 15%
Lease Term 5 Years,Fair Value of Machinery (useful life 15 years) ₹ 30 lakhs,Annual Lease Rental payable at ₹ 5 lakhs, ₹ 4
lakhs, ₹ 3 lakhs, ₹ 2 lakhs, ₹ 1 lakh at the end of each year ,
Implicit Rate of Return (IRR) 15%
Accounts Tax GST
March 17, 2021, 9:44 a.m.
Answer
On 01.10.2016, X purchased 5 Machines from Y for ₹ 10,00,000. Payment was to be made—20% down and the balance in
four annual equal instalments of ₹ 2,50,000 each to be paid at the end of each year. X, writes off depreciation @ 20% p.a. on the
original cost. On X ’s failure to pay the third instalment, Y e-mailed X that on 01.04.2020 he will repossess 3 machines and will
allow a credit for lower of the following:
(i) Value of Machines on the basis of 40% p.a. depreciation on WDV basis.
(ii) the amount paid against 3 machines less 50%.
X replied Ok. 01.04.2020 Y repossessed the machines as per mail.Y spent ₹ 6,000 on repairs of these machines and sold one of
such machines for ₹ 70,000 on 30th June 2020. X follows financial year as its accounting year.
Required: Prepare Machinery Account and Hire Vendor’s Account in the books of X and Hire Purchaser’s Account and Goods
Repossessed Account in the books of Y. Also Show the Items related to Hire Purchase in the Balance Sheet of X as at 31st
March, 2020.
four annual equal instalments of ₹ 2,50,000 each to be paid at the end of each year. X, writes off depreciation @ 20% p.a. on the
original cost. On X ’s failure to pay the third instalment, Y e-mailed X that on 01.04.2020 he will repossess 3 machines and will
allow a credit for lower of the following:
(i) Value of Machines on the basis of 40% p.a. depreciation on WDV basis.
(ii) the amount paid against 3 machines less 50%.
X replied Ok. 01.04.2020 Y repossessed the machines as per mail.Y spent ₹ 6,000 on repairs of these machines and sold one of
such machines for ₹ 70,000 on 30th June 2020. X follows financial year as its accounting year.
Required: Prepare Machinery Account and Hire Vendor’s Account in the books of X and Hire Purchaser’s Account and Goods
Repossessed Account in the books of Y. Also Show the Items related to Hire Purchase in the Balance Sheet of X as at 31st
March, 2020.