an item of plant and machinery was purchased on 1.1.2010 at a cost of rupees 20,000. The life of the assets was estimated to be five years and it was decided to depreciate 95% of the cost by the straight line method over the period of the estimated life.show the plant and machinery account for 5 years.
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Date
Particulars
J.F.
Amount
(Rs)
Date
Particulars
J.F.
Amount
(Rs)
2015
2016
April 01
Bank
4,00,000
Mar.31
Depreciation
40,000
April 01
Bank
50,000
Balance c/d
4,10,000
4,50,000
4,50,000
2016
2017
April 01
Balance b/d
4,10,000
Mar.31
Depreciation
40,000
Balance c/d
3,70,000
4,10,000
4,10,000
2017
2018
April 01
Balance b/d
3,70,000
Mar.31
Depreciation
40,000
Balance c/d
3,30,000
3,70,000
3,70,000
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