A company purchased plant and machinery for one million, on 1 January 2008. The company uses straight-line depreciation. The company estimates that the plant and machinery will have a useful life of 3 years, after which it may be disposed of for RS 100,000. The machine was sold on 30th April 2010 for 100,000.
A company purchased plant and machinery for one million, on 1 January 2008. The company uses straight-line depreciation. The company estimates that the plant and machinery will have a useful life of 3 years, after which it may be disposed of for RS 100,000. The machine was sold on 30th April 2010 for 100,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:A company purchased plant and machinery for one million, on 1 January 2008. The company
uses straight-line depreciation. The company estimates that the plant and machinery will have a
useful life of 3 years, after which it may be disposed of for RS 100,000.
The machine was sold on 30th April 2010 for 100,000.
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