1. A truck is purchased for Rs.1200000 on 1 st October 2015, the carriage charges paid
Rs.25000 and installation cost is Rs.25000. The average life of the truck is estimated 5
years.
a) Calculate the amount of depreciation using straight line method for 5 years.
b) Calculate the amount of depreciation using written down value method for 5 years.
2.On April 01, 2010, Bajrang Marbles purchased a Machine for Rs.Rs. 1,80,000 and spent Rs.Rs. 10,000 on it s carriage and Rs.Rs. on its installation. It is estimated that its working life is 10 years and after 10 years its scrap value will be Rs.Rs. 20,000.
(a) Prepare Machine account and Depreciation account for the first four years by providing depreciation on straight line method. Accounts are closed on March 31st every year
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