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X purchased a second hand machinery …

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X purchased a second hand machinery on 1 February 2018 for 50000 paid 11000 for its overhauling and 5000 for insulation which was completed by 31 March 2018 the government was application on machinery is 15% per annum of diminishing balance method from the date it was put to use and closes books on 31st December every year on 1 October 2019 repair work was carried out on the machine and 5000 were paid for the same the machine was sold on 31 October 2020 for the sum of 11000 and amount of 1 found was paid as maintenance charges prepare machinery account

Posted by Harshbandhani Singh 2 years, 10 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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