the company transfers annually a sum of rs 80 000 to the ldquo repairs and renewals 609525

Model: Repairs & renewals The following particulars are available from the books of Modern Electricity Company:

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Balance of Repairs and Renewals Reserve
Account as on 1 April 2009	2,10,000
Actual Repairs Incurred During the Year Ended
31 March 2010	90,000
31 March 2011	60,000

The Company transfers annually a sum of Rs.80,000 to the “repairs and renewals” reserve account Draw up the account for the years the years 2009–10 and 2010–11.

Provide depreciation on: building 21/2%, machinery 71/2%, mains 5%; transformers, etc. 10%; Meters 15%
A call of Rs.5 per share was payable on 30 June 2010 and arrears are subject to interest at 5% per annum

You are required to prepare (a) revenue A/c; (b) capital A/c for the year ended 31 December 2010 and (c) the balance sheet as on that date.

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