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Q.4: Oztech Limited purchased machinery for Rs. 60,000 on 1st July, 2001. They spend Rs. 20,000 on its installation. Assumed 10% rate of deprecation
Q.4: Oztech Limited purchased machinery for Rs. 60,000 on 1st July, 2001. They spend Rs. 20,000 on its installation. Assumed 10% rate of deprecation Per annum. Prepare the machinery Account for the Four years under following methods. 1. Fixed/straight line Method 2. Diminishing/Reducing/Decreasing Balance Method Assumed that accounts closed every year 31st December.
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Financial Accounting Fundamentals
Authors: John Wild
3rd edition
978-0073527048, 0073527041, 978-0077544652
