Question

Find the balance of Machinery account if machinery
purchased during the year is Rs 5,00,000, machinery
lost by fire Rs 1,00,000 and claim accepted by
insurance company is 60%, depreciation charged
during the year is 40,000?
o a. 5,40,000
b. 3,60,000
c. 4,00,000
d. 4,60,000​

Answer 1

Answer:

d

Explanation:

total goods equals to 500000

goods lost by fire equals to 100000

60% of 100000 equals to to 60000

500000-100000+60000= 460000