Batra Ltd. Purchases a machine at a cost of Rs.900000 on 1.1.2010. it was decided to charge depreciation @ 10% per annum on written down value method . Prepare the Machinery account and Depreciation account for 4 years.
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Answer:
-1/1/2010
Machine 900.000
Accumulated depreciation 0
-1/01/2011
Machine 900.000
Accumulated depreciation 90.000
-1/01/2012
Machine 900.000
Accumulated depreciation 90.000
-1/01/2013
Machine 900.000
Accumulated depreciation 90.000
-1/01/2014
Machine 900.000
Accumulated depreciation 90.000
Explanation:
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