Question

(1) One machine was purchased on 1-4-08. On 1-4-14 the opening balance of machine
account is 28,000. Depreciation on machine is charged at 10 % under straight line
method. Write journal entry for depreciation on 31-3-15.​

Answer 1

IF  COST  OF  MACHINE  AS  ON  01-04-2008  =  M

ANNUAL  DEPRECIATION  @  10%  UNDER  STRAIGHT  LINE  METHOD  =  0.1 M

DEPRECIATION  FROM  2008  TO  2014  =  0.6 M

VALUE  AS  ON  01-04-2014  =  M -  0.6 M  =  0.4 M  =  28,000

M  =  70,000

ANNUAL  DEPRECIATION  @  10%  =  7,000

    DATE                     PARTICULARS                      AMOUNT            AMOUNT

31-03-2015          DEPRECIATION  A/C                       7,000

                                  TO  MACHINERY  A/C                                         7,000

(BEING DEPRECIATION CHARGED FOR THE YEAR 2014-15)

Answer 2

Answer:

hope it help you..................................