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Binny Textiles Ltd. which depreciates its …

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Binny Textiles Ltd. which depreciates its machinery at 20%p.a. on diminishing balance method, purchased a machine for 600000 rupees on 1st October, 2010.It close books on 31st march every year.On 1st January, 2012, it purchased another machine for 150000 rupees. On 1st December, 2012, one -third of the machinery purchasedon 2st October, 2012 was sold for 8 0000 rupees. You are required to prepare Provision for Depreciation.
  • 1 answers

Guntaj Singh 6 years, 7 months ago

Balance of provision for depreciation accounts is ₹ 521280
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