Question

6. On 1st January, 2016, machinery was purchased by X for Rs. 50000. On 1" July, 2017,
additions were made to the extent of Rs. 10000. On 15 April, 2018, further additions were
made to the extent of Rs. 6400. On 30th June, 2019 machinery, the original value of
which was Rs.8000 on 18 January, 2016, was sold for Rs.6000. Depreciation is charged
at 10% p.a. on original cost.
Show the Machinery Account for the years from 2016 to 2019 in the books of X along
with working notes. X closes his books on 31st December
10+3=13​

Answer 1

Answer:

answer please

Explanation:

a

Answer 2

Following is the depreciation on machinery in the books of  x from 2016 to 2019:

1/1/16 : 50000

31/12/16 : Dep@10% = 50000*10%

                                   = ₹5000

1/7/17 : addition made = ₹10000

31/12/17 : Dep@10% = 50000*10%= 5000

                Dep@10%= 10000*10%*6/12 = 500

                Total dep = 5000+500= 5500

15/4/18 : addition made = 6400

31/12/18 :  Dep@10% = 50000*10%= 5000

                Dep@10%=  10000*10% = 1000

                 Dep@10%= 6400*10%*8.5/12=453

                Total dep = 5000+1000+453 = 6453

30/6/19 : machinery sold = value = 8000

         Depreciation till date =8000*10%3.5=2800

               value after dep = 8000-2800 = 5200

            profit on sale = 6000-5200 = ₹800.