Harsh Traders purchased on 1st April …
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Harsh Traders purchased on 1st April 2020, a second-hand machinery for Rs.1,80,000
Further expense of Rs.20,000 was incurred to improve its technical reliability. Useful ife
of the machinery is estimated to be 10 years. Maintenance during the year was Rs10,000.
On 1st July 2021 additional machinery costing Rs.1,00,000 was purchased. On
1st April 2022 the machinery purchased on 1st April 2020 having become obsolete was
sold for Rs.1,10,000 and on 1st October 2022 new machinery was purchased at a cost
of Rs.1,50,000.
Depreciation is charged @10%p.a. following Straight Line Method. Prepare the
Machinery Account for three years ending on 31s March 2023.
Posted by Paramdeep Singh 3 days, 12 hours ago
- 0 answers
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