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On 1st April 2014 purchase a …

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On 1st April 2014 purchase a machinery costing 400000 and spent 50000 on its erecting. Estimated life of machine is 10 yr, after which it's break up value will be 50000 only .prepare a machinery account for the first three yrs .the books Are closed on 31st March every yr

Posted by Vinay Sharma 8 years, 3 months ago

CBSE > Class 11 > Accountancy

1 answers

Avninder Kaur Chahal 8 years, 3 months ago

2014. April 1. To bank A/C 4,00,000. April 1. To erec. Charges 50,000 By side. ] 1st yr 2015 mar. 31 by dep. A/c 40,000 mar.31 by balance c/d 4,10,000 To side 2015 apr.1 to balance b/d 4,10,000 By side. ] 2nd yr 2016 mar. 31 by dep. A/c 40,000 mar 31 by balance c/d 3,70,000 To side 2016 Apr. 1 to balance b/d 3,70,000 By side. ] 3rd yr 2017 Mar. 31 by dep. A/c 40,000 Mar. 31 by balance c/d 3,40,000

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