Sustainable Development

Sustainable development means to take economic benefit what can help to raise living standard present generation without affecting need of future generation. This note has information about sustainable development.

Summary

Things to Remember

Sustainable development means to take economic benefit what can help to raise living standard present generation without affecting need of future generation.
Sustainable development teaches people to make low use of means and resources.
The main aim of sustainable development is to balance among population, various resources, various aspects of environment and development.
Sustainable development aware the people for the involvement in the policy making for the concept of limit of development.

MCQs

No MCQs found.

Subjective Questions

Q1:

V/S Auto Piston Ltd. Purchased a plant on 1^st Jan, 1995 at a cost on Rs.8,000 and spent 2,000 for its erection. The firm writes off depreciation on 31^st December of each year at 20% p.a. on the original cost method. The plant was sold for Rs.5,500 on 30^th June, 1997.

Required: Plant account

Type: Short Difficulty: Easy

Show/Hide Answer

Answer: Solution: <table class="account_meta"><tbody><tr><td width="279"> Dr. </td> <td width="488"> Machinery a/c </td> <td width="32"> Cr. </td> </tr></tbody></table> <div class="accounts"> <table width="804"><tbody><tr class="bordered"><td width="92"> Date </td> <td width="225"> Particulars </td> <td width="82"> Amount </td> <td width="113"> Date </td> <td width="210"> Particulars </td> <td width="83"> Amount </td> </tr><tr><td width="92"> 1995-1-1 </td> <td width="225"> To bank a/c </td> <td width="82"> 10,000 </td> <td width="113"> 1995-12-31 </td> <td width="210"> By depreciation a/c </td> <td width="83"> 2,000 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"></td> <td width="113"></td> <td width="210"> By balance c/d </td> <td class="bordered" width="83"> 8,000 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"> 10,000 </td> <td width="113"></td> <td width="210"></td> <td class="bordered" width="83"> 10,000 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"></td> <td width="113"></td> <td width="210"></td> <td class="bordered" width="83"></td> </tr><tr><td width="92"> 1996-1-1 </td> <td width="225"> To balance b/d </td> <td width="82"> 8,000 </td> <td width="113"> 1996-12-31 </td> <td width="210"> By depreciation a/c </td> <td width="83"> 2,000 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"></td> <td width="113"></td> <td width="210"> By balance c/d </td> <td class="bordered" width="83"> 6,000 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"> 8,000 </td> <td width="113"></td> <td width="210"></td> <td class="bordered" width="83"> 8,000 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"></td> <td width="113"></td> <td width="210"></td> <td class="bordered" width="83"></td> </tr><tr><td width="92"> 1997-1-1 </td> <td width="225"> To balance b/d </td> <td width="82"> 6,000 </td> <td width="113"> 1997-12-31 </td> <td width="210"> By depreciation a/c </td> <td width="83"> 1,000 </td> </tr><tr><td width="92"></td> <td width="225"> To gain on sales </td> <td class="bordered" width="82"> 500 </td> <td width="113"></td> <td width="210"> By bank a/c </td> <td class="bordered" width="83"> 5,500 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"> 6,500 </td> <td width="113"></td> <td width="210"></td> <td class="bordered" width="83"> 6,500 </td> </tr><tr><td width="92"></td> <td width="225"></td> <td class="bordered" width="82"></td> <td width="113"></td> <td width="210"></td> <td class="bordered" width="83"></td> </tr><tr><td width="92"></td> <td width="225"></td> <td width="82"></td> <td width="113"></td> <td width="210"></td> <td width="83"></td> </tr></tbody></table></div>

Q2:

Consider the following information:

Date	Transactions
2009-01-01	Purchased machinery for Rs.50,000
2011-07-01	Sold the machinery for Rs.40,000 which was purchased on 2009
2011-12-31	Purchased new machinery for Rs.50,000

Assuming the rate of depreciation is @ 10% on straight line method and accounts are closed on 31^st December of each year.

Required: Machinery account for the first three years.

Type: Short Difficulty: Easy

Show/Hide Answer

Answer: Solution: <table><tbody><tr><td width="279"> Dr. </td> <td width="488"> Machinery a/c </td> <td width="32"> Cr. </td> </tr></tbody></table> <div class="accounts"> <table><tbody><tr class="bordered"><td width="84"> Date </td> <td width="217"> Particulars </td> <td width="97"> Amount </td> <td width="90"> Date </td> <td width="232"> Particulars </td> <td width="78"> Amount </td> </tr><tr><td width="84"> 2009-01-01 </td> <td width="217"> To Bank a/c </td> <td width="97"> 50,000 </td> <td width="90"> 2009-12-31 </td> <td width="232"> By depreciation </td> <td width="78"> 5,000 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td width="97"></td> <td width="90"></td> <td width="232"> By balance c/d </td> <td width="78"> 45,000 </td> </tr><tr class="bordered"><td width="84"></td> <td width="217"></td> <td width="97"> 50,000 </td> <td width="90"></td> <td width="232"></td> <td width="78"> 50,000 </td> </tr><tr><td width="84"> 2010-01-01 </td> <td width="217"> To balance b/d </td> <td width="97"> 45,000 </td> <td width="90"> 2010-12-31 </td> <td width="232"> By depreciation </td> <td width="78"> 5,000 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td width="97"></td> <td width="90"></td> <td width="232"> By balance c/d </td> <td width="78"> 40,000 </td> </tr><tr class="bordered"><td width="84"></td> <td width="217"></td> <td width="97"> 45,000 </td> <td width="90"></td> <td width="232"></td> <td width="78"> 45,000 </td> </tr><tr><td width="84"> 2011-01-01 </td> <td width="217"> To balance b/d </td> <td width="97"> 40,000 </td> <td width="90"> 2011-12-31 </td> <td width="232"> By bank a/c </td> <td width="78"> 40,000 </td> </tr><tr><td width="84"></td> <td width="217"> To bank a/c </td> <td width="97"> 50,000 </td> <td width="90"></td> <td width="232"> By depreciation of sold machine </td> <td width="78"> 2,500 </td> </tr><tr><td width="84"></td> <td width="217"> To profit on sales </td> <td width="97"> 2,500 </td> <td width="90"></td> <td width="232"> By balance c/d </td> <td width="78"> 50,000 </td> </tr><tr class="bordered"><td rowspan="2" width="84"></td> <td rowspan="2" width="217"></td> <td width="97"> 92,500 </td> <td rowspan="2" width="90"></td> <td rowspan="2" width="232"></td> <td width="78"> 92,500 </td> </tr><tr class="bordered"><td width="97"></td> <td width="78"></td> </tr><tr><td width="84"> 2012-01-01 </td> <td width="217"> To balance b/d </td> <td width="97"> 50,000 </td> <td width="90"></td> <td width="232"></td> <td width="78"></td> </tr></tbody></table></div>

Q3:

EP12

Consider the following information:

Date	Transactions
2009-01-01	Purchased first machinery for Rs.80,000
2010-07-01	Purchased second machinery for Rs.60,000
2011-10-01	Purchased third machinery for Rs.1,20,000

Assume the rate of depreciation is @ 105 on diminishing balance method and are closed on 31^st December of each year.

Required: Machinery account for the first 3 years.

Type: Short Difficulty: Easy

Show/Hide Answer

Answer: Solution: <table><tbody><tr><td width="279"> Dr. </td> <td width="488"> Machinery a/c </td> <td width="32"> Cr. </td> </tr></tbody></table> <div class="accounts"> <table><tbody><tr class="bordered"><td width="84"> Date </td> <td width="215"> Particulars </td> <td width="97"> Amount </td> <td width="89"> Date </td> <td width="230"> Particulars </td> <td width="83"> Amount </td> </tr><tr><td width="84"> 2009-01-01 </td> <td width="215"> To bank a/c </td> <td width="97"> 80,000 </td> <td width="89"> 2009-12-31 </td> <td width="230"> By depreciation a/c </td> <td width="83"> 8,000 </td> </tr><tr><td width="84"></td> <td width="215"></td> <td width="97"></td> <td width="89"></td> <td width="230"> By balance c/d </td> <td width="83"> 72,000 </td> </tr><tr class="bordered"><td width="84"></td> <td width="215"></td> <td width="97"> 80,000 </td> <td width="89"></td> <td width="230"></td> <td width="83"> 80,000 </td> </tr><tr><td width="84"> 2010-01-01 </td> <td width="215"> To balance b/d </td> <td width="97"> 72,000 </td> <td width="89"> 2010-12-31 </td> <td width="230"> By depreciation a/c </td> <td width="83"> 10,200 </td> </tr><tr><td width="84"></td> <td width="215"> To bank a/c </td> <td width="97"> 60,000 </td> <td width="89"></td> <td width="230"> By balance c/d </td> <td width="83"> 1,21,800 </td> </tr><tr class="bordered"><td width="84"></td> <td width="215"></td> <td width="97"> 1,32,000 </td> <td width="89"></td> <td width="230"></td> <td width="83"> 1,32,000 </td> </tr><tr><td width="84"> 2011-01-01 </td> <td width="215"> To balance b/d </td> <td width="97"> 1,21,800 </td> <td width="89"> 2011-12-31 </td> <td width="230"> By depreciation a/c </td> <td width="83"> 12,180 </td> </tr><tr><td width="84"></td> <td width="215"> To bank a/c </td> <td width="97"> 1,20,000 </td> <td width="89"></td> <td width="230"> By balance c/d </td> <td width="83"> 2,26,620 </td> </tr><tr class="bordered"><td width="84"></td> <td width="215"></td> <td width="97"> 2,41,800 </td> <td width="89"></td> <td width="230"></td> <td width="83"> 2,41,800 </td> </tr><tr><td width="84"> 2012-01-01 </td> <td width="215"> To balance b/d </td> <td width="97"> 2,26,620 </td> <td width="89"></td> <td width="230"></td> <td width="83"></td> </tr></tbody></table></div>

Q4:

Pramesh purchased machinery on 1^st July, 2003 at a cost of Rs.78,000 and spent rs.2,000 on its installation. The firm writes off depreciation on 31^st December each year at 20% per annum on the written down value method. The machinery was sold for Rs.32,000 on 1^st October,2006. Prepare the machinery account from 2003 to 2006.

Type: Short Difficulty: Easy

Show/Hide Answer

Answer: Solution: <table><tbody><tr><td width="279"> Dr. </td> <td width="488"> Machinery a/c </td> <td width="32"> Cr. </td> </tr></tbody></table> <div class="accounts"> <table><tbody><tr class="bordered"><td width="84"> Date </td> <td width="217"> Particulars </td> <td width="97"> Amount </td> <td width="90"> Date </td> <td width="232"> Particulars </td> <td width="78"> Amount </td> </tr><tr><td width="84"> 2003-07-01 </td> <td width="217"> By bank a/c </td> <td width="97"> 80,000 </td> <td width="90"> 2003-12-31 </td> <td width="232"> By depreciation a/c </td> <td width="78"> 8,000 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td width="97"></td> <td width="90"></td> <td width="232"> By balance c/d </td> <td width="78"> 72,000 </td> </tr><tr class="bordered"><td width="84"></td> <td width="217"></td> <td width="97"> 80,000 </td> <td width="90"></td> <td width="232"></td> <td width="78"> 80,000 </td> </tr><tr><td width="84"> 2004-07-01 </td> <td width="217"> To balance b/d </td> <td width="97"> 72,000 </td> <td width="90"> 2004-12-31 </td> <td width="232"> By depreciation a/c </td> <td width="78"> 14,400 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td width="97"></td> <td width="90"></td> <td width="232"> By balance c/d </td> <td width="78"> 57,600 </td> </tr><tr class="bordered"><td width="84"></td> <td width="217"></td> <td width="97"> 72,000 </td> <td width="90"></td> <td width="232"></td> <td width="78"> 72,000 </td> </tr><tr><td width="84"> 2005-07-01 </td> <td width="217"> To balance b/d </td> <td width="97"> 57,600 </td> <td width="90"> 2005-12-31 </td> <td width="232"> By depreciation a/c </td> <td width="78"> 11,520 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td width="97"></td> <td width="90"></td> <td width="232"> By balance c/d </td> <td width="78"> 46,080 </td> </tr><tr class="bordered"><td width="84"></td> <td width="217"></td> <td width="97"> 57,600 </td> <td width="90"></td> <td width="232"></td> <td width="78"> 57,600 </td> </tr><tr><td width="84"> 2006-07-01 </td> <td width="217"> To balance b/d </td> <td width="97"> 46,080 </td> <td width="90"> 2006-12-31 </td> <td width="232"> By depreciation a/c </td> <td width="78"> 6,912 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td width="97"></td> <td width="90"></td> <td width="232"> By bank a/c </td> <td width="78"> 32,000 </td> </tr><tr><td width="84"></td> <td width="217"></td> <td class="bordered" width="97"></td> <td width="90"></td> <td width="232"> By balance c/d </td> <td class="bordered" width="78"> 7,168 </td> </tr><tr><td rowspan="3" width="84"></td> <td rowspan="3" width="217"></td> <td class="bordered" width="97"> 46080 </td> <td rowspan="3" width="90"></td> <td rowspan="3" width="232"></td> <td class="bordered" width="78"> 46080 </td> </tr><tr><td width="97"></td> <td width="78"></td> </tr><tr><td width="97"></td> <td width="78"></td> </tr></tbody></table> </div>

Q5:

Consider the following information:

Date	Transactions
2008-01-01	Purchased machinery for Rs.50,000
2010-07-01	Sold the machinery for Rs.50,000
2010-12-31	Purchased new machinery for Rs.50,000

Assuming the rate of depreciation is @ 10% on written down value method and accounts are closed on 31^st December of each year.

Required: Machinery account for the first three years.

Type: Short Difficulty: Easy

Show/Hide Answer

Answer: Solution: <table><tbody><tr><td width="279"> Dr. </td> <td width="488"> Machinery a/c </td> <td width="32"> Cr. </td> </tr></tbody></table> <div class="accounts"> <table><tbody><tr class="bordered"><td width="83"> Date </td> <td width="215"> Particulars </td> <td width="97"> Amount </td> <td width="89"> Date </td> <td width="230"> Particulars </td> <td width="83"> Amount </td> </tr><tr><td width="83"> 1995-01-01 </td> <td width="215"> To bank a/c </td> <td width="97"> 45,000 </td> <td width="89"> 1995-12-31 </td> <td width="230"> By depreciation a/c </td> <td width="83"> 4,500 </td> </tr><tr><td width="83"></td> <td width="215"></td> <td width="97"></td> <td width="89"></td> <td width="230"> By balance c/d </td> <td width="83"> 40,500 </td> </tr><tr class="bordered"><td width="83"></td> <td width="215"></td> <td width="97"> 45,000 </td> <td width="89"></td> <td width="230"></td> <td width="83"> 45,000 </td> </tr><tr><td width="83"> 1996-01-01 </td> <td width="215"> To balance b/d </td> <td width="97"> 40,500 </td> <td width="89"> 1996-12-31 </td> <td width="230"> By depreciation a/c </td> <td width="83"> 10,050 </td> </tr><tr><td width="83"></td> <td width="215"></td> <td width="97"></td> <td width="89"></td> <td width="230"> By balance c/d </td> <td width="83"> 90,450 </td> </tr><tr class="bordered"><td width="83"></td> <td width="215"></td> <td width="97"> 1,00,500 </td> <td width="89"></td> <td width="230"></td> <td width="83"> 1,00,500 </td> </tr><tr><td width="83"> 1997-01-01 </td> <td width="215"> To balance b/d </td> <td width="97"> 90,450 </td> <td width="89"> 1997-12-31 </td> <td width="230"> By bank a/c </td> <td width="83"> 22,000 </td> </tr><tr><td width="83"></td> <td width="215"></td> <td width="97"></td> <td width="89"></td> <td width="230"> By depreciation a/c </td> <td width="83"> 9,045 </td> </tr><tr><td width="83"></td> <td width="215"></td> <td width="97"></td> <td width="89"></td> <td width="230"> By profit and loss a/c </td> <td width="83"> 10,085 </td> </tr><tr><td width="83"></td> <td width="215"></td> <td width="97"></td> <td width="89"></td> <td width="230"> By balance c/d </td> <td width="83"> 48,600 </td> </tr><tr class="bordered"><td width="83"></td> <td width="215"></td> <td width="97"> 90,450 </td> <td width="89"></td> <td width="230"></td> <td width="83"> 90,450 </td> </tr><tr><td width="83"> 1998-01-01 </td> <td width="215"> To balance b/d </td> <td width="97"> 48,600 </td> <td width="89"></td> <td width="230"></td> <td width="83"></td> </tr></tbody></table></div>

Videos

Depreciation

Depreciation - Straight line method

What Is Depreciation - How It Affects Profit And Cash Flow

Sustainable Development

The earth is our common home where survival and development are possible without the environment. But the environmental resources are limited and have certain technological discoveries, human needs are always growing. The earth cannot be made bigger and richer to supply our growing needs. On the one hand, our development activities should be enabled to continue in the long term. On the other hand, the future generations must get what we have got. So we must use the resources wisely, carefully and responsibly to let our coming generation live the comfort we lived. This is called sustainable development.

Sustainable development means to take economic benefit what can help to raise living standard present generation without affecting the need for future generation. It means to conserve resources without affecting its quantity and quality. The main aim of sustainable development is to balance among the population, various resources, various aspects of environment and development.

Principles of Sustainable Development

To increase peoples' participation
To preserve environment
To make proper utilization of natural resources
To increase social development and economic growth
To increase social harmony and develop skilled manpower

Importance of Sustainable Development

Sustainable development teaches people to make low use of means and resources.
Sustainable development brings about changes in people’s knowledge, attitude and skill.
Sustainable development emphasizes on the progress of health, education, agriculture, tourism and social reform for the development of human beings.
Sustainable development aware the people for the involvement in the policy making for the concept of limit of development.

What should be done for sustainable development?

Tree plantation, preservation of the environment and forest should be done.
Emphasis should be given to organic farming.
Proper management of solid wastes should be done.
Population growth rate should be controlled.

Lesson

Social Problems and its Remedies

Subject

Social Studies and Population Education

Grade

Grade 8

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