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On Ist April, 2020, Plant and …

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On Ist April, 2020, Plant and Machinery was purchased for 1,20,000. New machinery was purchased on 1st Oct., 2020, for ₹50,000 and on 1st July, 2021, for ₹25,000. On 1st January, 2023, a machinery of the original value of ₹20,000 which was included in the machinery purchased on 1st April, 2020, was sold for 26,000, Prepare Plant & Machinery A/c for three years after providing depreciation at 10% p.a. on Straight Line Method. Accounts are closed on 31st March every year

Posted by Vip Padmaraj 1 year, 3 months ago

ICSE & ISC > Class 11 > Accountancy

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On Ist April, 2020, Plant and Machinery was purchased for 1,20,000. New machinery was purchased on 1st Oct., 2020, for ₹50,000 and on 1st July, 2021, for ₹25,000. On 1st January, 2023, a machinery of the original value of ₹20,000 which was included in the machinery purchased on 1st April, 2020, was sold for 26,000, Prepare Plant & Machinery A/c for three years after providing depreciation at 10% p.a. on Straight Line Method. Accounts are closed on 31st March every year

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Commenced business with cash ₹60000

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