W.D.Vas on 1.4.2016 Re maining Estimated Usefule Life Annual Depreciation 10,414 (Approx) %3D llustration Tom and Dick Commenced business on 1st January, 2015 when they purchased P and Equ fo 8,00,000. The decided to (i) charge depreciation at 10% p.a under stra Line meth and (ii) charge fuell year's depreciation in case of acquisition of a new asset. 7 years %3D Their purchases of plant over the next years are as follows : 1st August, 2016 2nd September 2017 2,00,000 4,00,000 On 1st January, 2018 they decided to change method and rate of depreciation to 20% on dimin. balance basis with prospective effect. Prepare plant and Equipment Account for the year 2016 to 2018.

W.D.Vas on 1.4.2016 Re maining Estimated Usefule Life Annual Depreciation 10,414 (Approx) %3D llustration Tom and Dick Commenced business on 1st January, 2015 when they purchased P and Equ fo 8,00,000. The decided to (i) charge depreciation at 10% p.a under stra Line meth and (ii) charge fuell year's depreciation in case of acquisition of a new asset. 7 years %3D Their purchases of plant over the next years are as follows : 1st August, 2016 2nd September 2017 2,00,000 4,00,000 On 1st January, 2018 they decided to change method and rate of depreciation to 20% on dimin. balance basis with prospective effect. Prepare plant and Equipment Account for the year 2016 to 2018.

Name: 1.4.131,00,0001 yr.1 yr1 yr0o n 0 0. 202 1/12/1212:592015-162. Deprec
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Description: 1.4.131,00,0001 yr.1 yr1 yr0o n 0 0. 202 1/12/1212:592015-162. Depreciation under changed method :New Method : Straight Line Method (SLM)8,100W.D.V as on 1.4.2016Re maining Estimated Usefule LifeAnnual Depreciation%3D7 years%3D10,414 (Approx)llustra

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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