A company whose accounting year is a calendar year, purchased on 1st April 2013 machinery costing Rs. 30000. It purchased further machinery on 1st October 2013, costing Rs 2000.
On 1st January 2015 one - third of the machinery installed on 1st April 2013 became obsolete and was sold for Rs. 3000 Depreciation is being written off at 10% P.A. on fixed installment system Prepare machinery account as would appear in the ledger of the company for three years.
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A company whose accounting year is a financial year, purchased on 1st July, 2014 machinery costing Rs. 30,000.It purchased further machinery on 1st January, 2015 costing Rs. 20,000 and on 1st October, 2015 costing Rs. 10,000.On 1st April, 2016, one-third of the machinery installed on 1st July, 2014 became obsolete and was sold for Rs. 3,000.Show how Machinery Account would appear in the books of the company. It being given that machinery was depreciated by Fixed Instalment Method at 10% p.a. What would be the value of Machinery Account on 1st April, 2017? depreciation class-11 Share It On 1 Answer +1 vote answered Sep 1, 2019 by PujaBharti (54.9k points) selected Sep 2, 2019 by faiz Working Notes ← Prev QuestionNext Question → Related questions 0 votes 1 answer A company purchased on 1st July, 2015 machinery costing Rs. 30,000. It further purchased machinery on 1st January, asked Sep 1, 2019 in Accounts by Sindhu01 (57.0k points) depreciation class-11 0 votes 1 answer A company purchased a machinery for Rs. 50,000 on 1st October, 2015. Another machinery costing Rs.10,000 asked Sep 1, 2019 in Accounts by Sindhu01 (57.0k points) depreciation class-11 0 votes 1 answer On 1st July, 2015, Sohan Lal & Sons purchased a plant costing Rs. 60,000.