The following balances appeared in Machinery Account and Accumulated Depreciation Account in the books of Jai Bharat
Question:
The following balances appeared in Machinery Account and Accumulated Depreciation Account in the books of Jai Bharat Ltd.:
Particulars 31.3.2007 31.3.2008 Rs. Rs.
Balances as at:
Machinery Account 17,78,985 26,55,450 Accumulated Depreciation Account 3,40,795 4,75,690 Additional Information Machinery costing Rs. 2,65,000 on which accumulated depreciation was Rs. 1,00,000 was sold for Rs. 75,000.
You are required to:
(i) Compute the amount of machinery purchased, depreciation charged for the year and loss on sale of machinery.
(ii) How shall each of the items related to machinery be shown in the Cash Flow Statement?
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Zero To Mastery In Accounting Become A High Level Accounting Manager
ISBN: 9789392475177
1st Edition
Authors: HECTOR ROBINETT
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