Question

Q15. On 1" April, 2010, Plant and Machinery was purchased for Rs. 1,20,000. New
machinery was purchased on 1" Oct, 2010 for Rs. 50,000 and on 1 July, 2011, for
Rs. 25,000.
On 1" January, 2013, a machinery of the original value of Rs. 20,000 which was
included in the machinery purchased on 1" April, 2010 was sold for Rs. 6,000.
Prepare Plant & Machinery A/c for three years after providing depreciation at 10%
p.a. on Straight Line Method. Accounts are closed on 31 March every year.​

Answer 1

Answer:

For 2010

depreciation on machinery purchased on 1 april 2010- 12000

depreciation on machinery purchased on 1 october 2010- 2500

For 2011

balance b/d- 108000+47500+=155500

depreciation on 1st machine- 12000

depreciation on 2nd machine- 5000

depreciation on 3rd machine- 1875 (for 9 months)

For 2012

balance b/d- 96000+42500+23125=161625

depreciation on 1st machine- 10000

depreciation on 2nd machine- 5000

depreciation on 3rd machine- 2500

depreciation on machine sold-1667

sale value- 6000

book value on 1st april 2012- 16000

:loss on sale- 8333

:balance b/d- 46500

Answer 2

Explanation

For 2011balance

108000+47500+=155500depreciation on 1st machine- 12000depreciation on 2nd machine- 5000depreciation on 3rd machine- 1875 (for 9 months)For 2012balance b/d- 96000+42500+23125=161625depreciation on 1st machine- 10000depreciation on 2nd machine- 5000depreciation on 3rd machine- 2500depreciation on machine sold-1667sale value- 6000book value on 1st april 2012- 16000:loss on sale- 8333:balance b/d- 46500.

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