Question

December 2014
B.Com. SKD) (Ans. Balance in Machinery account 31.12.2013 42,476)
Tick Tick Company purchased second-hand machinery on 1" January
2000 for 12,000 and immediately spent 8,000 on overhauling. On
July 1. 2000 additional plant costing 10,000 was purchased. On July 1,
2002 the machinery acquired on 1" January 2000 having become obsolete
was sold off for 4,000. On the same date another machinery was
purchased at a cost of 24,000.
Depreciation was provided annually on 31 December at the rate of 10%
per annum on the original cost of the machine.
Show the machinery account as it appeared at the end of each year from
January 2000 to 31" December, 2005.​

Answer 1

Answer:

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