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Mr. X purchased a second hand …

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Mr. X purchased a second hand machinery on 1-2-2011 for 50000: paid Rs 11000 for its over hauling and Rs 5000 for its installation which was completed by 31-3-2011 . The company provides depreciation on its machinery at 15% on diminishing balance method from the date it was put to use and closes it's books on 31-12 every year. On 1-10-2012 a repair work was carried out on the machine and Rs 5000 were paid for the same. The machine was sold on 31-10-2013, for a sum of Rs 11000 and an amount of Rs 1000 was paid as dismantling Charges . Prepare a machinery account from 2011 to 2013.

Posted by Sachin Verma 3 years, 9 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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