Question

depreciation problems

Answer 1

abc purchase a machine on 1.1.10 for rs 150000 and spent rs 10000 on its erection .prepare machinery account for 3 years if account are closed on 31.12 every years .the depreciation is to be charged @10% p.a on original cost method . 
hint : machine cost = 150000 + 10000 
         balance of machinery account = 112000 
         
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