A LTD purchased a machine for RS 50,000 on 1st January 2016. Further additions were made on 1st July 2016 and 1st April 2017 for RS 40,000 and RS 30,000 respectively. On 1st October 2016 1st machine (1st January 2015) was sold for RS 28500 and a new machine was purchased for RS 60000. Prepare machinery account for three years ending 31st December 2018 if depreciation is to be charged at 10% p.a
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Explanation:
the cost value=50k
additional charge=30k
purchased charge=60k
discount =10k
time =three months
three years charge=10×12
=1.12m
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