Question

016. On 1" April, 2015 Manav Ltd., purchased 10 machines of Rs. 30,000 each. On 30
June, 2016, one machine out of the 10 machines purchased on 1" April, 2015, was
sold for Rs. 24,000 and on 31" Dec, 2017 one more machine was sold for Rs.
22,500. A new machine was purchased on 30" Sept, 2018 for Rs. 32,000. The
company has adopted the practice of providing depreciation at 10% p.a. on original
cost of machine. The company closes its books on 31" March every year. You are
required to prepare Machinery Account upto 31" March 2019.​

Answer 1

Answer:

300000*1000/1000

25%

=100

Answer 2

Answer:

:

For 2015

depreciation on machinery purchased on 1 april 2010- 12000

depreciation on machinery purchased on 1 october 2010- 2500

For 2017

balance b/d- 108000+47500+=155500

depreciation on 1st machine- 12000

depreciation on 2nd machine- 5000

depreciation on 3rd machine- 1875 (for 9 months)

For 2019

balance b/d- 96000+42500+23125=161625

depreciation on 1st machine- 10000

depreciation on 2nd machine- 5000

depreciation on 3rd machine- 2500

depreciation on machine sold-1667

sale value- 6000

book value on 1st april 2012- 16000

:loss on sale- 8333

:balance b/d- 46500