Question

X limited purchased a machine on 1st April 2016 for ₹50000 and on 1st October in the same year the 2nd machine was purchased for ₹30000.on 1st July 2017 more additional made ₹2000.on 30th june 2018 the first machine got a accident and destroyed, insurance claim for₹35000 on the same date a new machine was purchased for ₹40000 deprecation provide at the @ of 10% per annum. Book close on 31st Dec every year prepare machinery method for the above year

Answer 1

the depression of 4 assets is as follows

1 st asset = 11250
2 nd asset = 6750
3 rd asset = 300
4 th asset = 2000
total of all assets dep = 20300.

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