on 1st January 2017 machinery was purchased by firm rupees 500000 on 1st july 2018 addition were made to the exent of rs.10000 against on 1st april 2019 additions were made rs.6400 on 30th june 2020 machinery the original value which were rs.8000 on 1st January 2017 was sold for rs.6000 the books of account are closed on 31st December each year show machinery account for 4years from 2017-2020 depreciation 10% under straight line method and WDV method
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ooi ooi enna panra pa hai ooi enna panra
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1) Value of the Machinery account at the end of 31-12-2020 under straight line method is 304780
2) Value of the Machinery account at the end of 31-12-2020 under Written down value method is 333378
Explanation:
Under straight line method of depreciation calculation, depreciation calculation in the first year is charged to other years.
However, under straight line method, depreciation is calculated on the opening balance of particular year of depreciation.
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