Question
On 1st Jan 2017,a company purchased a machine costing Rs. 500,000. Its estimated working life is 20 years at the end of which it will
On 1st Jan 2017,a company purchased a machine costing Rs. 500,000. Its estimated working life is 20 years at the end of which it will fetch Rs. 20000. Additions are made on 1st January 2018 and 1st July 2019 to the value of Rs. 80,000 (scrap value Rs. 4000) and Rs. 40000(scrap value Rs. 2000) respectively. The life of both new machines is 20 years. Show machine A/c for first four years.
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Working Notes Depreciation Purchase cost scrap Value Life of the Machinery Depreciation M1 500000 ...
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Financial Reporting and Analysis
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
7th edition
1259722651, 978-1259722653
