11) ABC Ltd purchased a machine on 1-4-2012 from PQR Ltd at a cash price of Rs. ,100,000 payable Rs. 20,000 on agreement and the balance in four annual instalments of Rs. 25,000 each. The first instalment was made on 31-12-2012. ABC Ltd charged depreciation @ 10% on fixed instalment system. Pass necessary journals and prepare ledger accounts in the books of both.

11) ABC Ltd purchased a machine on 1-4-2012 from PQR Ltd at a cash price of Rs. ,100,000 payable Rs. 20,000 on agreement and the balance in four annual instalments of Rs. 25,000 each. The first instalment was made on 31-12-2012. ABC Ltd charged depreciation @ 10% on fixed instalment system. Pass necessary journals and prepare ledger accounts in the books of both.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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