Question

2. A company whose accounting year is the calendar year, purchased on 1st January,2017 a machinery for ` 80,000. It purchased further machineries on 1st October, 2017 for ` 20,000 and on 1st July, 2018 for ` 10,000. On 1st July,2019, 1/4th of the machinery installed on 1st January, 2017 became obsolete and was sold for ` 12,000. Show how the machinery account would appear in the books of the company for all the 3 years under Fixed Installment method. Depreciation is to be provided at 10% p.a. (2 marks)

Answer 1

Answer:

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Explanation:

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