Vashisht Bros purchased two Machines from Haryana Manufacturers for Rs.2,50.000
each on 15 July 2016. Installation charges and carriage on both machines amounted
to Rs. 1,00,000 in total. Another Machine was purchased on 31st Dec 2017 for
Rs.2.00,000. On 15 July 2018 one Machine, purchased on 19 July 2016, become
obsolete and was disposed off for Rs.55,000 and Rs. 5,000 was paid as commission to
middleman. On 15 Jan, 2019, half of the Machine purchased on 31st Dec.2017 was
sold off for Rs.30.000. Prepare Machinery Account for three years, if depreciation is to
be charged annually @10% p.a by S.L.M and books are closed on 31 March every
year.
Answers
Answer:
Explanation:
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Answer:
Explanation:
Machinery A/c
To Bank 350000 By Depreciation 26250
(depreciation for 9 months)
By Balance c/d 323750
350000 350000
To balance b/d 323750 By Depreciation 35000
To bank 20000 By Dep 500
By bal c/d 3085250
343750 343750
To Balance b/d 3085250 By Dep 8750
To Bank 5000 By Bank 55000
By Dep 2000
By balance c/d 220000
By bank 24500
313250 313250