37. A machine was purchased on 1st April, 2018 for ₹5,00,000 and on 1st October, 2018, a new machine is added for ₹2,00,000. Calculate the balance of machine account if depreciation is charged at 20% p.a. on written down value method for the year ending March 31, 2019.
(a) ₹6,00,000 (b) ₹5,60,000 (c) ₹6,60,000 (d) ₹5,80,000
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Answer:
b) Rs. 560000
Explanation:
Add the value on April 1 and October 1 take 20% of it and subtract the 20% to the original amount i.e; 7,00,000. Your answer is 5,60,000
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