Hind Alloy Limited follows straight line method of depreciation for plant and machinery. The company charges proportionate
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Hind Alloy Limited follows straight line method of depreciation for plant and machinery. The company charges proportionate depreciation in the year of acquisition. It bought a machine for ₹ 5 million on 1st October 2015. The machine was expected to have a useful life of eight years with residual value of ₹ 500,000. Due to the technological changes, on 1st April 2017 the company decided to revise the remaining useful life to four years. You are required to compute depreciation charges for the financial years 2016, 2017 and 2018.
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