Question

X Ltd purchase a machine on Ist July ,2020 for ₹50,000
Depriciation is too charge @10./. Pa what will be amount of depreciation if the book are closed on 31st March every year

Answer 1

Answer:

show depreciation on the Debit side of the p and L a/c as:

50000×10/100 = 5000

show depreciation on the asset side of balance sheet as:

machinery 50000

(-) depreciation 5000

45000

Explanation:

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Answer 2

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