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On 1st January 2010 a limited …

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On 1st January 2010 a limited company purchased machinery for rupees 2000000. Depreciation is provided at the rate of 15% per annum on diminishing balance method.on 1st March 2012 one fourth of the machine was damaged by fire and rupees 40000 were received from the insurance company in full settlement.on 1st September 2012 anything machinery was purchased by the company for rs 1500000. Write up the machinery account from 2012 to 2013. Books are closed on 31st December every year.

    • Posted by Rishabh Srivastava 6 years, 11 months ago

    CBSE > Class 11 > Accountancy
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