Question

Prepare the machinery A/C and depreciation A/C for 3 years and on original cost method
1. Machine 1 purchased on 1-4-2010 for ₹ 80,000
2. Machine 2 purchased on 1-1-2011 for ₹ 50,000
3. Machine 2 sold on 1-5-2011 for ₹ 46,000
----> Depreciation is at 10%
please send answers with the working out, thanks!​

Answer 1

Explanation:

☑️Prepare Machine A/c for three years ending 31st March, 2015 if depreciation is to be charged @ 10% p.a. on straight line basis.☑️