Question

a machine purchase for 5 lakh as on 1st April 2005. after sometime another machine was purchased for 1 lakh as on 1st October. prepare machine account and depreciation account for 3 year by the using slm method depreciation will be charged at the rate 10% PF account are closed every 31st March​

Answer 1

Answer:

Original Value mentioned = 5,00,000

Mentioned on Depreciation for 2012 - 2013 = 50,000

Mentioned on Depreciation for 2013 - 2014 = 50,000

Mentioned on Depreciation for 2014 - 2015 = 37,500

Mentioned on Book value as on 1.1.15 = 3,62,500

Sale Value = 2,85,000

Loss on sale of machine 1 = 77,500.

hope it helps u !!