During the year a grinding machine was purchased for 700,000. Expenses of cartage and installation was around 300,000. Calculate the amount of depreciation @ 20% p.a. as per Straight Line Method for the first year ending on 31st March, 2019, if this machine is purchased on: a. 1st April, 2018, b. 1st July, 2018, c. 1st October, 2018, d. 1st January, 2019.

During the year a grinding machine was purchased for 700,000. Expenses of cartage and installation was around 300,000. Calculate the amount of depreciation @ 20% p.a. as per Straight Line Method for the first year ending on 31st March, 2019, if this machine is purchased on: a. 1st April, 2018, b. 1st July, 2018, c. 1st October, 2018, d. 1st January, 2019.

Name: During the year a grinding machine was purchased for 700,000. Expense
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Description: During the year a grinding machine was purchased for 700,000. Expenses of cartage and installation wasaround 300,000. Calculate the amount of depreciation @20% p.a. as per Straight Line Method for thefirst year ending on 31st March, 2019, if this ma

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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