=+1. *On 31st December, 1961, a limited company owned machinery which appeared in its balance sheet drawn
Question:
=+1. *On 31st December, 1961, a limited company owned machinery which appeared in its balance sheet drawn up as on that date as "at cost
£97,300 less aggregate depreciation £51,770."
During 1962 the company bought new machinery at a cost of £12,400 and sold old machinery which had originally cost £5,800 and in respect of which it had provided £4,900 (part of the £51,770 above) depreciation.
The additional depreciation provided in respect of the year ended 31st December, 1962, in respect of all the machinery in use at that date was £9,780.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Question Posted: