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plant and machinery. Illustration 3. X …

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plant and machinery. Illustration 3. X purchased a second-hand machinery on 1-2-2000 for Rs. 50,000 paid Rs. 11,000 for its overhauling and Rs. 5,000 for its installation which was completed by 31-3-2000. The company provides depreciation on its machinery at 15% per annum on diminishing balance method from the date it is put to use and closes its books on December 31 every year. On 1-10-2001, a repair work was carried out on the machine and Rs. 5,000 were paid for the same. The machine was sold on 31-10-2002 for a sum of Rs. 11,000 and an amount of Rs. 1,000 was paid as dismantling charges. Prepare Machinery Account from 2000 to 2002.

Posted by Safeera Sadaf 2 years, 9 months ago

CBSE > Class 12 > Accountancy

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CBSE > Class 12 > Accountancy

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