Illustration No.

 Working Note
 Calcualation of Depreciation ( SLM) & Profit Or Loss On Sale Of Furniture

Particulars Furniture 1 Furniture 2 Total

(1.10.2014) (1.03.2015) depreciation
1st April 2014 To 31st March 2015 (1st Year) 450000 300000
(-) Depreciation (33750) (6M) (3750) (1M) 37500
1St April 2015 ( Wdv) ( 2nd Year) 416250 296250
31st March 2016 (-) Denpn ( 67500) (1Yr) (45000) (1Yr) 112500
1st April 2016 (Wdv) Book Value 348750 251250
(-) Dep 31st March 2017 ( 3rd Year) (16875) (3M) (45000) 61875
Book Value 331875 206250
(-) Selling Price (225000)
Loss On Sale Of Furniture 1 106875

In the Books Of Azar Ltd.

Furniture A/c
Dr Cr

Date Particulars j Amt Date Particulars j Amt

/ /
f f
14-15 14-15
1st Oct14 To Bank A/c - 450000 31st mar15 By Depreciation A/c - 37500
1st To Bank A/c 300000 31st mar15 By Balance C/d 712500
Mar15 ( Bal. Fig.)
750000 750000
15-16 15-16
1st Apr15 To Balance B/d - 712500 31st mar16 By Depreciation A/c - 112500
31st mar16 By Balance C/d 600000
( Bal. Fig.)
712500 712500
16-17 16-17
1st Apr16 To Balance B/d - 600000 1st Jul16 By Bank A/c - 225000
By Profit & Loss A/c - 106875
( Loss)
31stMar17 By Depreciation A/c - 61875
31stMar17 By Balance C/d - 206250
(Bal. Fig.)
600000 600000
17-18
1st Apr17 To Balance B/d - 206250
 Depreciation A/c
Dr Cr

Date Particulars j Amt Date Particulars j Amt

/ /
f f
31stMar15 To Furniture A/c - 37500 31st Mar 15 By P & L A/c - 37500
37500 37500

31stMar15 To Furniture A/c - 112500 31st Mar 15 By P & L A/c - 112500

112500 112500

31stMar15 To Furniture A/c - 61875 31st Mar 15 By P & L A/c - 61875

61875 61875