Bank accounts unit 6

Building gross is 65000 and depreciation reserve is 800 so the opening builidng value is 62000 and depreciaton for the year is 5000 so the closing building value is 59200 Similarly for furniture

Sudha Reddy

CA Final

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06-Dec-21 11:37

Question gives gross cost and depreciation provision balance - so take net as the opening and the depreciation for the year is given which needs to be reduced

Sudha Reddy

CA Final

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06-Dec-21 11:16

That doesnt give the answer. There is something called depreciation reserve. What does that mean?

Thread Starter

Ashwathi selvanathan

CA Inter

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06-Dec-21 11:22

Depreciation provision - opening balance

Sudha Reddy

CA Final

★ 20K+

06-Dec-21 11:24

Here..building is 65000 and depreciation is given as 5000...then how ?

Thread Starter

Ashwathi selvanathan

CA Inter

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06-Dec-21 11:29

yeah i got it..thank you mam

Thread Starter

Ashwathi selvanathan

CA Inter

★ 2K+

06-Dec-21 11:41