Question

On 1st April 2017 AB Ltd. Purchased a machinery for Rs.5,60,000 and paid Rs. 40,000 for its carriage and installation. On 1st October 2017 they purchased another machinery for Rs. 5,00,000 inclusive of carriage and installation of Rs 38,000. On 1st October 2019 the machinery purchased on first April 2017 was sold at a loss of Rs. 15,000 and a new machine was purchased for Rs.8,00,000. Prepare machinery account up to the year ended 31st March 2020 if depreciation is charged @ 10% per annum on the written down value ​

Answer 1

Explanation:

the depreciation from 2014

to 2020 has been done

for 2014- 60000

for 2015 - 54000

for 2016 - 48600

for 2017 - 68740

for 2018 - 86866