Question

discuss the fixed installment method of depreciation with illustration​

Answer 1

Answer:

Fixed Installment Method or Equal Installment Method or Straight Line Method or Fixed Percentage on Original Cost Method: In this method a fixed or equal amount of depreciation written off as depreciation at the end of each year, during the life time of the asset.

Answer 2

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❥Illustration 1: (Depreciation by Fixed Installment Method) A company whose accounting year is the calendar year, purchased on 1st April 2003, machinery costing Rs 30,000. It purchased another machine on 1st October 2003, costing Rs 20,000 and on 1st July 2004, costing Rs 10,000

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