Class 11 || Furniture Account || Original Cost Method || Full 3-Year Solution || Depreciation

Описание: Accounting for fixed assets (playlist):
   • Class 11: Accounting for fixed assets(Depr...  

In this video, we solve a complete Furniture Account question using the Original Cost Method of depreciation. The problem includes multiple purchases over different years and sale of an asset (furniture) and we prepare the Furniture Account for three years step -by-step.
Here is the question:
The following transactions are given:
On 1st Shrawan 2074: Furniture was purchased for Rs. 1,00,000.
On 1st Magh 2074: Additional furniture costing Rs. 20,000 was purchased.
On 1st Kartik 2075: Further furniture costing Rs. 12,800 was purchased.
On 29th Poush 2076: The furniture purchased on 1st Shrawan 2074 was sold for Rs. 17,850.
Depreciation is to be charged at 10% p.a. on the original cost Method.
The accounts are closed on 31st Ashad each year.
Required: Prepare Furniture Account for three years.
This video is useful for students preparing accounting exams and anyone needing a clear demonstration of the Original Cost Method.

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