on 1st april,2007,a limited company purchased a machine for rs.190000 and spent rs.10000 on its installation.At the date of purchased, it was estimated that the scrap value of the machine would be rs.50000 at the end of sixth year.give machine account and depriciation account in the books of the company for 4 years after providing depriciation by fixed installment method .the books are closed on 31st march every year.
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Explanation:
Date Particulars Amount (₹) Date Particulars Amount (₹)
2015 2016
Apr. 01 Bank A/c (1,90,000 + 10,000) 2,00,000 Mar. 31 Depreciation A/c 25,000
Mar. 31 Balance c/d 1,75,000
2,00,000 2,00,000
2016 2017
Apr. 01 Balance b/d 1,75,000 Mar. 31 Depreciation A/c 25,000
Mar. 31 Balance c/d 1,50,000
1,75,000 1,75,000
2017 2018
Apr. 01 Balance b/d 1,50,000 Mar. 31 Depreciation A/c 25,000
Mar. 31 Balance c/d 1,25,000
1,50,000 1,50,000
2018 2019
Apr. 01 Balance b/d 1,25,000 Mar. 31 Depreciation A/c 25,000
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