A firm purchased on 1st April, 2009, a second hand Machinery for Rs 36,000 and spent Rs 4,000 on its installation. On 1st Oct. in the same year another Machinery costing Rs 20,000 was purchased. On 1st Oct., 2011, the Machinery bought on 1st April, 2009 was sold off for Rs 12,000 and on the same date a fresh Machine was purchased for Rs 64,000. Depriciation is provided annually on 31st March, @ 10% p.a. on the Written Down Value Method. Show the Machine account from 1st April, 2009 to 31st March, 2013.
Answers
Answer:
Machine account in the form of balance sheet is given below
Explanation:
Date Particulars Amount(Rs)
2009
Apr.01 Bank A/c (M1) 40,000
(Rs 36,000+Rs 4,000)
Oct.01 Bank A/c (M2) 20,000
60,000
2010
Mar. 31 Depreciation A/c
M1 4,000
M2 1,000 5,000
Mar. 31 Balance c/d
M1 36,000
M2 19,000 55,000
60,000
2010
Apr.01 Balance b/d
M1 36,000
M2 19,000 55,000
2011
Mar. 31 Depreciation A/c
M1 3,600
M2 1,900 5,500
Mar. 31 Balance c/d
M1 32,400
M2 17,100 49,500
55,000
2011
Apr.01 Balance b/d 49,500
M1 32,400
M2 17,100 49,500
Mar. 01 Bank A/c (M3) 64,000
1,13,500
2011
Ocr.01 Depreciation A/c (on M1 for 6 months) 1,620
Bank A/c (Sale of M1) 12,000
Profit and Loss A/c (Loss on Sale) 18,780
2012
Mar.31 Depreciation on-
M2 1,710
M3 3,200 4,910
Mar. 31 Balance c/d
M2 15,390
M3 60,800 76,190
1,13,500
2012
Apr.01 Balance b/d
M2 15,390
M3 60,800 76,190
76,190
2013
Mar.31 Depreciation
M2 1,539
M3 6,080 7,619
Mar.31 Balance c/d
M2 13,851
M3 54,720 68,571
76,190