Question

010-11-15
4. From the following transactions of a concern, prepare the Machinery Account for te
ended 31st March, 2019:
1st April, 2018 : Purchased a second-hand machinery for 40,000.
1st April, 2018 : Spent 10,000 on repairs for making it serviceable.
30th September, 2018 : Purchased additional new machinery for 20,000.
31st December, 2018 : Repairs and renewal of machinery 3,000.
31st March, 2019 : Depreciate the machinery at 10% p.a.
[Balance of Machinery Alc on 1st April, 2017!​

Answer 1

Answer:

April 2010. Additional machinery was acquired for 7 40,000 on 30th September 2011 and for * 25,000 on 1st April,

2013. Certain machinery, which was purchased for 7 40,000 on 30th September, 2011 was sold for 7 34,000 on

30th September, 2013. Give the machinery account for the year ending 31st March, 2014 taking into account

depreciation at 10% per annum on the written - down value.