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On 1st April, 2014, Veeru Ltd. …

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On 1st April, 2014, Veeru Ltd. purchased a machinery for Rs. 2,50,000 and spent rs. 50,000 on its installation. On 1st July, 2016 1/3rd of machinery purchased on 1st April, 2014 was sold for Rs. 15,000 and a new machinery at the cost of Rs. 2,00,000 was purchased on the same date. The company has adopted the method of providing depreciation @ 15% p.a. on straight line method. Show the machinery account, provision for depreciation account and machinery disposal account for three years ended on 31st March, 2015 to 31st March, 2017. (6)

Posted by Atul Singh 4 years, 3 months ago

CBSE > Class 11 > Accountancy

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