Friends, let's do one last case and practice with us,
because whatever we have done, we have taken only one
example till depreciation, in that we have seen all
entries, in that only we have discussed about provision, in
that only we have discussed about asset disposal, so we
should work with some different figures also, otherwise our
discussion will be incomplete, so I am presenting one more
case in front of you, case number 4, and you will write and
come with me, case number 4, everybody has
write down.
A firm purchased, a firm purchased a machinery on 1st
January 2018 for Rs.
Rs. 3 lakhs, a firm purchased a machinery for Rs. 3 lakhs
on 1st January 2018, subsequent to which, subsequent to
which means after purchasing, Rs. 60,000 and Rs. 40,000,
Rs. 60,000 and Rs.
Rs. 40,000 were spent on its repair and installation, on
its repairs and installation, on 1st July 2019, on 1st July
2019, another machinery was purchased for Rs.
2,60,000, another machine was purchased for Rs.
on 1st July 2020, the first machinery, the first machinery
having become outdated, having become outdated was
auctioned for, first write, then we will ask the question
in Hindi, first write, auctioned for Rs.
3,20,000, and on the same date, comma, another machinery
was purchased for Rs.
2,50,000, another machinery was purchased for Rs.
another machinery was purchased for Rs.
2,50,000, on 1st July 2021, on 1st July 2021, the machinery
purchased on 1st January 2018 was sold for Rs.
2,30,000, was sold for Rs.
2,30,000, write it, depreciation was provided on machinery,
at the rate 10% on straight line method, at the rate 10% on
straight line method, annually on 31st December, annually
on 31st December, required, what all is required from you,
required, prepare the following accounts,
do one thing, pass the general entry, he will make the
account himself, now we do not do theory, leave it,
pass general entries, we have to pass general entries, we
will do it directly in tele, we will do it directly in
tele, write it,
a firm purchased a machinery on 1st January 2018 for Rs.
subsequent to which, the machinery was repaired for Rs.
Rs. 60,000 was repaired and Rs.
40,000 was spent on installation,
Rs. 40,000 was spent on installation, Rs.
40,000 was spent on installation,
on 1st July 2019, that is, the whole year 2018 passed,
from 1st January 2018 to 31st December 2018, and even in
2019, January, February, March, April, May, June, 6 months
passed,
and the date comes 1st July 2019, that day, another
machinery was purchased for Rs.
machinery no.
2 was purchased for Rs.
after that, on 1st July 2019, the day machinery no.
2 was purchased for Rs.
a year later, on 1st July 2020,
on 1st July 2020, the first machinery purchased having
become outdated was auctioned for Rs.
the first machinery which was purchased on 1st January 2018
for Rs.
was sold on 1st July 2020, and was auctioned for Rs.
1st January 2018, the whole year 2018, the whole year 2019,
and 6 months of 2020, till 1st July,
that is, after 2.5 years, this machinery was sold for Rs.
and on 1st July 2020, another work was done, on the same
day,
another machinery was purchased for Rs.
machinery no.
3 was purchased for Rs.
and a year later, on 1st July 2021,
on 1st July 2021, the machinery purchased,
hey, wait a minute, do I have to make a correction here?
ok, sell the second machinery here, there is a little
correction here,
on 1st July 2021, the machinery purchased for Rs.
2,50,000, ok, sell the second machinery here, there is a
little correction here,
on 1st July 2021, the machinery purchased on 1st July 2019,
that is, the second machinery, the first one has already
been sold,
here, on 1st July 2019, on 1st July 2021,
the machinery purchased on 1st July 2019, was sold for Rs.
the machinery that we purchased on 1st July 2019, this one
for Rs.
2,60,000, two years later, on 1st July 2021, it was sold
for Rs.
the depreciation rate will be 10% with the straight line
method,
and you have to make general entries in Teleprime,
you have to make general entries in Teleprime,
ok, so this was the question we had,
we read it out, you all note it down,
and we are going to do it in Teleprime, we are going to do
it in Teleprime,
provision for depreciation or not?
No, we don't have to apply provision for depreciation,
to open asset disposal,
we don't have to apply provision for depreciation,
ok, let's do it,
let's go to Teleprime, I will flash Teleprime with you, ok,
so first of all, you will buy machinery,
you will do payment, so first of all, create a company,
and put some money in it, yes sir, ok,
so alt f3 create company without any delay what should i
name it name it case 4 question didn't tell the name name
it case 4 depreciation depreciation topic case number 4
take haryana in state and save it again and again what to
do control it no need to enable gst control it yes sir ok
that's very much alright that's very much fine first of all
enter the voucher in received f6 received voucher alt c
owners capital account owners capital account under the
heading of capital account owners
account under the heading of capital account put 20 lakhs
put 20 lakhs debit it alt c hdfc bank account change the
flavor do ICICI do HDFC
HDFC HDFC HDFC HDFC HDFC HDFC capital invested in the
business write it easily being capital invested in the
business and save this entry from which money came to our
bank and became capital and now we will be able to do
payment while buying machinery in balance sheet, bank
balance came here 20 lakh here owner's capital came 20 lakh
after this what we have to do we will buy machinery on 1st
January 2018 now friends when we created the company what
was the period alt k and a for alter sir here
started from 1st April 2022 change it your question will
start from 1st January 2018 take 18 and go
I will come back and tell you so that you get the habit of
changing if something is left then how to change it how to
correct it that's why I come back and do it no problem
let's move ahead
on 1st January 2018 purchase of 3 lakh and expenditure of 1
lakh machinery no.1 way for voucher f5 payment debit it
from alt machinery 1 account
under fixed assets take goods here under fixed assets take
goods in type of supply after that press ctrl a put amount
3 lakh, 60,000, 40,000, 4 lakh sir whole machinery 1 cost
will be part you are buying repair machinery 1 you bought
second hand machinery so it will go in the cost of that and
installation cost is capitalized in the cost of machinery 4
lakh credit ICICI bank account 4 lakh you have to tell in
narration you have to tell in narration 3 lakh machine
60,000 repair and 40,000
you have to tell in narration being machinery 1 purchased
for 3 lakh
and spent
8,000 on repair and
40,000 on installation 60,000 on repair and 40,000 on
installation on installation ok press ctrl a save it yes
what you have to do put depreciation on December 21, 2018
you have to put depreciation on December 21, 2018 you have
to put depreciation on December 21, 2018 you have to put
depreciation on December 21, 2018 last day of the year
nothing is happening in the year 2018 no one is buying or
selling last day of the year put depreciation take general
voucher in F7 take date in F2
December 21, 2018 he is saying date cannot be below the
current period come out go to d4 display go to d4 day book
take this entry
January 1, 2018 save it warning again what is the problem
on main gateway of telly alt F2 start from January 1, 2018
alt F2 start from January 1, 2018 tell in two places while
creating main company ok ok now go to d4 display and this
entry will change
January 1, 2018 and this entry will change
January 1, 2018 now you do that work depreciation d4
voucher F7 take date here
December 21, 2018 create depreciation account depreciation
account under indirect expenses depreciation account under
indirect expenses services in type of supply services in
type of supply services in type of supply ok sir no problem
save it put amount in debit 4,00,000 is 10% 40,000 is
40,000 credit machinery one account because there is no
provision there is no provision to save machinery machinery
will suffer depreciation write narration
depreciation charged
depreciation charged on machinery one depreciation charged
on machinery one
write in bracket 4,00,000 into 10% 4,00,000 into 10% 40,000
4,00,000 into 10% save it save it now your account balance
is 3,60,000
you
you you you
you you
you
you Next, we are going to buy another machine for Rs.
2,60,000 on 1st July, 2019.
We have to buy another machine for Rs. 2,60,000 on 1st
July, 2019.
Let's do this work.
Come to Veefor Voucher.
Come to Voucher and select Payment Voucher.
Come to Voucher and select Payment Voucher from F5.
Take the date 1st July, 2019.
Take the date 1st July, 2019 by pressing F2.
If there is any problem in the date, then go to Gateway of
Tally.
Press F2 with ALT and change the whole period.
Start it from 1st January, 2018.
And it should be done after 1st July, 2019.
We have taken the date 1st July, 2019.
And we will debit the machinery no. 2 account.
We will create machinery no. 2 account by pressing ALT C.
Under the heading of Fixed Assets.
writing of fixed assets GST applicable or a type of supply
goods.
Control your amount.
260,000 two lakhs credit credit credit credit credit credit
credit credit credit credit credit credit credit credit
credit credit credit credit
control your amount.
Second write your payment payment on screen.
Control save save save control save save save save control
save save control save save save save save save save I will
minus the depreciation of Rs 13000 on that.
So how much should be saved? Rs 2,47,000.
And see how much is left. Rs 2,47,000.
It is still Rs 2,47,000.
So it is absolutely fine. There is no problem in this.
Yes sir, absolutely fine. No problem here at all.
Very very very good.
Yes sir.
After this, what we have to do after this.
After this, my dear friends, next year, January 1st will be
the start of the 20th.
And on July 1st, we are going to sell a machinery and we
are going to buy a machinery.
According to your question.
See this.
As per your question, on 1st July 2020, we will buy a
machinery and we will sell one.
First, let's buy this one for Rs 2,50,000.
First, let's buy the one for Rs 2,50,000.
Let's go.
Buy the one for Rs 2,50,000.
Come out on Gateway of Delhi.
V for Voucher. F5 Payment.
We will debit.
A Machinery 3 Account.
Under Fixed Assets.
Amount is Rs 2,50,000.
Rs 2,50,000.
Credit it. ICICI Bank.
Rs 2,50,000.
Bing.
Machinery 3 Purchased.
And payment made.
By cheque.
Machinery 3 Purchased.
And payment made by cheque.
Save it with CTRL A.
Now it's time to sell.
Which machinery is it?
Let's see.
The first machinery.
We are going to sell the first machinery.
First machinery is going to be sold.
We are going to sell the first machinery.
Ok Sir.
First of all,
Depreciation of the date of sale.
F7 Journal.
Depreciation Account.
4 lakhs 10% for 6 months.
We are leaving it for 7th July 2020.
6th May.
1 month depreciation.
2 month monetary depreciation.
1 month monetary depreciation.
You only have to deposit 3 lakhs on machinery 1 from 1st
day of year up to date of sale from 1st day of year up to
date of sale from 1st day of year up to date of sale 6
months depreciation this was our first promise whenever we
sell machinery we should not forget the depreciation from
1st day of year up to date of sale and in P&L it will
transfer itself next entry would be asset disposal so next
entry would be to transfer this machinery 1 to asset
disposal transfer it in general voucher debit
and create it machinery 1 disposal account
machinery 1 disposal account under fixed assets machinery 1
disposal account when it takes birth it would be debited
and machinery 1 would be transferred to it machinery 1
would be transferred to it with the amount 3 lakhs
You can see here that current balance is 0 under Machinery
1 account.
After buying 4 Lakh Rupees, I have accumulated 40,000 Deps
and 3 Lakh Rupees Deps.
Then I have accumulated 40,000 Deps and 20,000 Deps.
After buying 20,000 Deps and 6 Months Deps, I have
accumulated 30,000 Deps.
Then I have accumulated 20,000 Deps and 3 Months Deps.
Then 40,000 debt was left for 320,000.
Then 20,000 6-month debt was left for 300,000.
And then 300,000 was put in the disposal account.
So today the current balance of Machinery 1 account is 0.
Bing Machinery 1
Transfer to
Machinery 1
Disposal account
Machinery 1
Disposal account
Save it by pressing CTRL-A
What to do after this?
After this, press F2 and take the date.
The last date of the year is 31-12-2020.
Take 31-12-2020
Put depreciation on the second and third machines.
Debit the debtion account.
How much will come on the second machinery? 2,60,000 will
come for the entire year.
This time 10%, 26,000
And the third machinery that you bought for 250,000
My dear friend will come on that.
10% 25,000 But only for 6 months, i.e.
12,500 26,000 12,500 38,500 Machinery 2 account 26,000
Machinery 3 account 12,500 Machinery 2 2,60,000 10% 26,000
Machinery 3 1 July 10% Write depreciation
Being depreciation charged on M2 for a full year
And on
M3 for 6 months
And on M3 for 6 months
Just write it down
Being lapsed and charged on Machinery 2 for a full year and
on Machinery 3 for 6 months.
and save it by controlling it, friends. Yes sir, we have
saved it by controlling it.
Well done.
Now what to do? Now we have come in the next year, in 2021.
On July 1, 2021, we have to transfer the second machinery.
On July 1, 2021, we are going to sell it in machinery
disposal.
Look at your question.
What is written here? On July 1, 2021, machinery purchased
on July 1, i.e.
the second machinery was sold for Rs.
2,30,000. So, from the first day of the year to the date of
sale, put an adaption on the second machinery.
Take F7, journal voucher and take the date 1st July 2021.
Depreciation account debit.
Now Rs.
2,60,000 10%, again for 6 months.
January, February, March, April, May, June 2021.
For 6 months.
Depreciation charged. Being depreciation charged on
machinery 2 for 6 months.
Control and save.
After this, make a machinery 2 disposal account and put
machinery 2 in it.
Machinery 2 disposal account under fixed assets.
And put machinery number 2 in it.
What is the balance of machinery number 2 left with us? Rs.
2,08,000. You can also see this in your balance sheet.
And credit will be done.
Machinery 2 account Rs.
2,08,000 and see here, the current balance is zero.
The current balance is zero.
How is Rs.
2,08,000 in machinery 2 disposal? Go outside and see in the
balance sheet.
The value of machinery 2 there will be transferred to the
same machinery disposal account.
Yes sir, no problem.
Write the narration below. Being machinery 2 transferred to
machinery 2 disposal account.
Machinery 2 disposal account.
Control and save. After this, the last day of the year.
Depreciation on machinery 3 on December 31, 2021.
Machinery 3 account for 25,000, 2.5 lakhs, 10% for the
entire year.
Depreciation account debit Rs. 25,000. Machinery 3 account
credit Rs. 25,000.
Being depreciation charged on machinery 3 for full year.
Save by pressing control A and come out in the balance
sheet.
There is only one machinery left in the balance sheet.
Machinery 1 is also empty.
Machinery 2 is also empty and Machinery 3 is left with Rs.
2,12,500.
But sir, Machinery 1 disposal account is not empty yet.
I said absolutely right.
And sir, Machinery 2 disposal account is also not empty yet.
Okay, first change its date.
January 1, 2018 to 31, 2021.
Right. Okay, this is also not empty yet.
Because we have only transferred machinery to them.
We have not yet entered the sale of machinery in the
disposal account.
And we are not yet entering the profit loss on it.
We are going to do that now.
Okay, sir.
So, how much did we sell machinery 1 for?
Machinery 1 for Rs. 3,20,000.
And Machinery 2 for Rs. 2,30,000.
Let's enter the sale of both.
Come to V for Voucher.
Go to F6 Received Voucher.
And take the date.
We sold the first machinery on July 1, 2020.
Credit Machinery 1 Disposal Account Rs. 3,20,000.
And Debit ICICI Bank Account Rs. 3,20,000.
This is the entry to sell the first machine.
How much did we sell?
This is the entry to sell the first machine.
Being Machinery 1 Sold.
And Amount Received in Bank.
Amount Received in Bank.
Save by pressing CTRL-A.
Change the date by pressing F2.
July 1, 2021.
We are selling machinery number 3 on this day.
To 2.
Credit Machinery 2 Disposal Account.
We are selling it for Rs. 2,30,000.
Rs. 2,30,000.
Debit ICICI Bank Account Rs. 2,30,000.
Being Machinery 2 Sold.
And Amount Received in Bank.
Amount Received in Bank.
This is the entry to sell the machine.
Bank Account Debit and Disposal Account Credit.
We are doing the same.
Press CTRL-A.
Escape and come out.
Go to B for Balance Sheet.
Machinery 1 Disposal Account Rs. 20,000.
And Debit ICICI Bank Account Rs. 22,000.
What is this?
This is negative.
This is a profit.
If you see a positive balance in the disposal account after
the entry of the sale,
Then it is a loss.
If it looks negative, then it is a profit.
Remember.
In the Machinery 1 Disposal Account and in the 2 Disposal
Account,
After the entry of the sale,
Minus Rs. 20,000 and Rs. 22,000 is a profit.
So we have to pass the entry of the profit further.
Come to the B for Voucher and come to the General Voucher.
Take the date.
First of all, July 1, 2020.
Asset Disposal.
Debit Machinery 1 Disposal.
From Rs. 20,000.
And Credit Altseeker Profit on Sale of Machinery 1 Account.
Profit on Sale of Machinery 1 Account.
Under Indirect Incomes.
The way you debit Loss on Sale of Machinery 1 Account,
You will credit Profit on Sale of Machinery 1 Account.
Because it is your income and credits the income.
That's why we will make Profit on Sale of Machinery 1
Account.
Under the heading of Indirect Income.
Save it by pressing Ctrl A.
Write the Narration below.
Being Profit on Sale of Machinery 1 Recorded.
After this, take the date of 1 July 2021.
Take the date of 1 July 2021.
And here you have to debit Machinery 2 Disposal Account.
From Rs. 22,000.
And Credit Profit on Sale of Machinery 2 Account.
Under Indirect Income.
Being Profit on Sale of Machinery 2 Recorded.
Machinery 2 Disposal Account Debit.
Credit Profit on Sale of Machinery 2 Account.
This entry is also written in our notes.
Save it by pressing Ctrl A.
Come out.
Press B for Balance Sheet.
Now it is missing.
Machinery 1 is empty.
Disposal is empty.
Machinery 2 is empty.
Disposal is empty.
Only Machinery 3 Account is left.
Rs. 2,12,500.
And that is the last balance of Machinery.
Friends, you can work like this.
How much will be transferred in Machinery Disposal Account?
You can come out and see from the Balance Sheet.
No manual calculation is required.
And when you enter the Sale,
Bank to Machinery Disposal.
After that, Profit or Loss.
You can also come to the Balance Sheet and see for yourself.
No need to calculate.
If it is negative,
Disposal Account.
If Profit is positive,
Loss.
After entering the Sale.
After entering the Sale,
Bank to Disposal Account.
Okay? Okay.
So, friends, do review it.
There is nothing without revision.
You will have to see once or twice.
I know this clip very well.
We have also done a little fast this time.
Okay? Why? Do you want to do fast?
We have spent so much time on depreciation.
And if you have coped up at this speed,
Then understand that you have learned.
Then there is no problem.
Okay? So, do revision.
Very well.
If there is any doubt, ask.
We will meet in the next class.
Thank you and Bye Bye.