Question

17. A Company, whose accounting year is financial year, purchased on 1st July, 2010 a Machinery costing
Rs. 30000. It purchased further Machinery on 31st December, 2010 costing Rs. 20000 and on 15
October, 2011 costing Rs. 10000.
On 1st April 2012, one-third of the Machinery purchased on 1st July 2010 became obsolete and was
sold for Rs. 3000. Show how Machinery Account would appear in the books of the company it is
being given that Machinery were depreciated by Fixed Installment Method @10% per annum. What
would be the balance of Machinery Account on 1st \pril, 2013?​

Answer 1

Explanation:

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