The book value of plant and machinery on 1-1-2014 was 2,00,000. New ma

1.	The book value of plant and machinery on 1-1-2014 was 2,00,000. New machinery for $10,000 was purchasedon 1-10-2014 and for 20,000 on 1-7-2015. On 1-4-2016, a machine whose book value had been * 30,000 on1-1-2014 was sold for * 16,000. Depreciation had been charged at 10% per annum since 2014 on straight linemethod. It was decided in 2016 that depreciation @ 20% p.a. on diminishing balance method should be chargedwith retrospective effect since 1-1-2014. Show Plant and Machinery Account upto 31-12-2016. Give detailedworkings. Also show change of method prospectively.[B. Com. (P) Delhi 2009 Modified)Plant and Machinery AccountDr.
Answer» Answer: $\huge\star\huge{ \pink{\bold {\underline {\underline {\red {Answer}}}}}} \star$ EXPLANATION: Its MAIN functions include: administering WTO trade agreements, providing a forum for trade negotiations, handling trade disputes, monitoring national trade POLICIES, providing technical assistance and training for developing countries, and ensuring COOPERATION with other international organisations.

The book value of plant and machinery on 1-1-2014 was 2,00,000. New machinery for $10,000 was purchasedon 1-10-2014 and for 20,000 on 1-7-2015. On 1-4-2016, a machine whose book value had been * 30,000 on1-1-2014 was sold for * 16,000. Depreciation had been charged at 10% per annum since 2014 on straight linemethod. It was decided in 2016 that depreciation @ 20% p.a. on diminishing balance method should be chargedwith retrospective effect since 1-1-2014. Show Plant and Machinery Account upto 31-12-2016. Give detailedworkings. Also show change of method prospectively.[B. Com. (P) Delhi 2009 Modified)Plant and Machinery AccountDr.

Answer»

Answer:

$\huge\star\huge{ \pink{\bold {\underline {\underline {\red {Answer}}}}}} \star$

Its MAIN functions include: administering WTO trade agreements, providing a forum for trade negotiations, handling trade disputes, monitoring national trade POLICIES, providing technical assistance and training for developing countries, and ensuring COOPERATION with other international organisations.

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