A machine was purchased on 1.1.2015 for BDT 5,00,000. On 1.7.2015 another machine was purchased for BDT 3,00,000. Depreciation is to be provided @ 10% p.a. under Reducing Balance Method. You are required to show: (i) Machinery Account for 2015 and 2016; (ii) Provision for Depreciation Account for 2015 and 2016; (iii) How did the Machinery Account appear in the Balance Sheet at the end of 2016. [Assume that no Provision for Depreciation Account is maintained]

A machine was purchased on 1.1.2015 for BDT 5,00,000. On 1.7.2015 another machine was purchased for BDT 3,00,000. Depreciation is to be provided @ 10% p.a. under Reducing Balance Method. You are required to show: (i) Machinery Account for 2015 and 2016; (ii) Provision for Depreciation Account for 2015 and 2016; (iii) How did the Machinery Account appear in the Balance Sheet at the end of 2016. [Assume that no Provision for Depreciation Account is maintained]

Name: A machine was purchased on 1.1.2015 for BDT 5,00,000. On 1.7.2015 ano
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Description: A machine was purchased on 1.1.2015 for BDT 5,00,000. On 1.7.2015 another machine was purchased for BDT3,00,000. Depreciation is to be provided @ 10% p.a. under Reducing Balance Method.You are required to show: (i) Machinery Account for 2015 and 201

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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