Question

Q. 10. From the following transactions of a concern, prepare Machinery Accom
for the year ending 31st March, 2020:
2019
April
Purchased a second-hand machinery for 40,000.
April 1: Spent 10,000 on repairs for making it serviceable.
Sept. 30 : Purchased additional new machinery for 20,000.
Dec. 31 : Repairs and renewals of machinery 22,000.
2020
March 31 : Depreciate the machinery at 10% p.a.
[Ans. Balance of Machinery on 31-3-2020, 64,000.]
Hint :- Repair charges of 2,000 have been incurred on Dec., 31 whereas the machinn
has been purchased on Sept. 30. As such, it is an expenditure of revenue nature and hence
not be recorded in Machinery A/c.
Balance Method​

Answer 1

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