A company purchased on 1st July, 2015 machinery costing Rs 30,000. It further purchased machinery on 1st January, 2016 costing Rs 20,000 and on. 1st October, 2016 costing Rs 10,000. On 1st April, 2017, one-third of the machinery installed on 1st July, 2015 became obsolete and was sold forRs 3,000. The company follows financial year as accounting year. Show how the Machinery Account would appear in the books of company if depreciation is charged "@ "10% p.a. on Written Down Value Method.

A company purchased on 1st July, 2015 machinery costing Rs 30,000. It

1.	A company purchased on 1st July, 2015 machinery costing Rs 30,000. It further purchased machinery on 1st January, 2016 costing Rs 20,000 and on. 1st October, 2016 costing Rs 10,000. On 1st April, 2017, one-third of the machinery installed on 1st July, 2015 became obsolete and was sold forRs 3,000. The company follows financial year as accounting year. Show how the Machinery Account would appear in the books of company if depreciation is charged "@ "10% p.a. on Written Down Value Method.
Answer» <html><body><p><br/></p><a href="https://interviewquestions.tuteehub.com/tag/solution-25781" style="font-weight:bold;" target="_blank" title="Click to know more about SOLUTION">SOLUTION</a> :`" <a href="https://interviewquestions.tuteehub.com/tag/balance-891682" style="font-weight:bold;" target="_blank" title="Click to know more about BALANCE">BALANCE</a> on 1st <a href="https://interviewquestions.tuteehub.com/tag/april-380813" style="font-weight:bold;" target="_blank" title="Click to know more about APRIL">APRIL</a>, 2017 ": Mach. I (2//3)- Rs 16,650 and Mach. I (1//3)- Rs 8,325, Mach. <a href="https://interviewquestions.tuteehub.com/tag/ii-1036832" style="font-weight:bold;" target="_blank" title="Click to know more about II">II</a>- Rs 17,550, Mach. III- Rs 9,500. Depreciation (2017-18)-Mach. I (2//3) Rs 1,665, Mach. II Rs 1,755, Mach. III Rs 950.`</body></html>

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