Question

On 1st april, 2016, Ltd. purchased a machine costing ₹ 400000 and spent ₹ 50000 on ots installation. The estimated life of machinery os 10 years, after which its residual value will be 50,000 only. Find the amount of annual depreciation according to the fixed instalment method and prepare machineey account for the first three years. The books are closed on 31st March every years. Calculate the annual depreciation and balance of machi ery.​

Answer 1

Answer:

in 1april 2016 400000 + 50000 - 50000 all ÷10