Question

Machinery worth Rs.35,000 purchased on first of January 1997 was wrongly return off against profit and loss account this acid is to be brought into accounts on 1 January 1999 taking depreciation at the rate of 10% per annum on straight line basis up to 31st December 98

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

machinery =35000

-dep for 1997 =3500

-dep for 1998 =3500

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machinery =28000

appeared for

1999

Explanation:

this machine will be added in the existing machine of the year 1999.(dep will be counted on total machine)

It will also be added in capital because it was a continuing machine.

Note-: as adjustments have 2 entries the abovr are the 2 entries for it

I hope you understand the answer.