Question

plant and machinery overvalued by 10000 in revaluation account​

Answer 1

Answer:

on 1st January 2017 company purchase machine 40000 and spent 10000 on its entolestion on 1st July another old. machine was purchase for rupee 10000 on which repair was done for rupees 5000 and ensolation charge 5000 the account are close each year on 3 December assuming the aniual depreciation to be 10% so the machine account for 4 year under the straitline method