Question

a machine is purchased rupees 5 lakh by bank on july 1st 2017 and on 1st january 2018 another machine was purchased by 300000 for cash and on april 1st another machine was purchased by 400000 and machine was purchased on july 1st 2017 was obselence and sold it for rupees 290000 on the same date and the machine was purchased by bank rupees 600000 if the rate of depreciation is being charged by at 10% on written down value method then prepare machinery account up to 31st march 2019.​

Answer 1

Answer⤵️⤵️

According to straight line method, the amount of yearl -depreciation is calculated as follows:

Depreciation = (Cost of asset - Scrap value) / Estimated life and,

Depreciation = Rs. ( 50000 - 10000 ) / 10

Depreciation = Rs. 4000

Depreciation rate = (Depreciation expense / Cost of asset) * 100

Depreciation rate = (Rs. 4000 / Rs. 50000 ) * 100

Depreciation rate = 8%

hope it helps u dude

Answer 2

Answer:

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