Question

Anu Ltd. purchased a machinery worth Rs.80,000 on 1st January, 2001. Additional machines were

purchased on 1st July, 2002 worth Rs.60,000 and on 1st October, 2002 for Rs.30,000. On 1st January, 2003

part of machine (purchased on 1st January, 2001 became useless and was sold for Rs.14,500 (original cost

Rs. 40,000). Depreciation is charged @ 20% per annum by Fixed Installment Method. Show the Machinery

Account for first 3 years, assuming that the accounts were closed on 31st December every year.
Please answer the question​

Answer 1

Answer:

27-Sep-2020 · 1 answer

On 31-3-1991 a machinery purchased on 1-4-1989 costing Rs. 12,000 was sold for Rs. 11,000 and on 30-6-1991 a machinery ... On 1-10-1991 additions were to