2. On 1st April, 2017, Alpha Ltd. bought a machine costing 349,000. Its working life was estimated as 10 years and it will fetch then 9,000. On 1st April, 2018, it bought another machine for 25,000 having useful life 15 years (scrap value * 2,500). Additions was made again on 1st July, 2019 with machine costing 18,000 with break up value * 3000 and effective life of 15 years. Show Machinery A/c from 2017-18 to 2019-20 assuming depreciation is charged on original cost method and accounts are closed on 31st March each year.
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2/On 1st April, 2017, Alpha Ltd. bought a machine costing * 49,000. Its
working life was estimated as 10 years and it will fetch then 9,000.
On 1st April, 2018, it bought another machine for 25,000 having useful
life 15 years (scrap value *2,500). Additions was made again on 1st July,
2019 with machine costing 18,000 with break up value 3000 and
effective life of 15 years.
Show Machinery A/c from 2017-18 to 2019-20 assuming depreciation is
charged on original cost method and accounts are closed on 31st March
each year.
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