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On 1 April 2008, Verma and …

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On 1 April 2008, Verma and Co. purchased two machines of 40,000 each. On 1 July 2009 and 1 Oct 2009 additional machinery were purchased for 30,000 and 20.000 respectively. On 1 April 2010, one of the machines purchased on 1 April 2008 become obsolete was sold for 21,000. Depreciation is charged @ 15% p.a. on written down value method on 31 March each year. You are required to prepare machinery account for 3 years.

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CBSE > Class 11 > Accountancy

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