New Trading company, Mumbai
purchased Machinery for RS.90,000 on
1st April 2008. On 1st October 2008
additional machinery was purchased for
Rs. 60,000. On 1st October 2010 the
company sold the Machinery purchased
on 1st October 2008 for Rs. 40,000.
Depreciation is to be charged at 10%
p.a. under straight line method on 31st
March every year. Prepare Machinery
Account for three years i.e. 2008-09,
2009-10 and 2010-11.
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Answer:
value of machine is 63000 . which was purchase on 1 April 2008
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