4. On 1 JAN 2016, xyz Ltd. Purchased machinery for Rs. 120000 and on 30 June 2017, one more machine of worth Rs. 200000. On 31 March 2018, one of the original machinery which had cost Rs. 50000 was found to have become obsolete and was sold as scrap for Rs.70000. it was replaced on that date by new machine costing Rs.80000. Depreciation is to be provided @ 15% P.A. on W.D.V. Account are closed on 31 December every year. Show machinery A/C for 3 years.

4. On 1 JAN 2016, xyz Ltd. Purchased machinery for Rs. 120000 and on 30 June 2017, one more machine of worth Rs. 200000. On 31 March 2018, one of the original machinery which had cost Rs. 50000 was found to have become obsolete and was sold as scrap for Rs.70000. it was replaced on that date by new machine costing Rs.80000. Depreciation is to be provided @ 15% P.A. on W.D.V. Account are closed on 31 December every year. Show machinery A/C for 3 years.

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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