If two machines are purchased for Rs 20,000 and 10,000 respectively, first one is purchased for resale purpose and another one is for production purpose then machinery of Rs ---------- will be debited in Machinery Account
Answers
Answer:
Both will be debited to the machinery account...because it is assets for this time for the firm...
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Answer:
The blank space is filled with the 30,000.
Explanation:
In this question, we have to determine the what amount is debited to the machinery account. In this, question it is given that two machinery is purchased for 20,000 and 10,000. As we know that the machinery is an asset for the company and when the asset is purchased by the company it is debited. The purpose of purchasing the asset does not effect the treatment of the asset. Now in the question two machines are purchased for different purposes but both are an asset for the company hence, the total of both machines which is 30,000 is debited to the machinery account.
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