A company whose accounting year is the calendar year

Asked by admin @ 23/08/2021 in Accountancy viewed by 2963 People

a company whose accounting year is the calendar year purchased on 1st April 2007 machinery costing rupees 30000 it purchased for that machinery on 1st October 2007 costing rupees 20000 and on 1st July 2008 costing rupees 10000 on 1st January 2009 on one third of the machinery which was installed in 1st April 2007 become excellent and it was sold for rupees 3000 rupees so how the machinery account would appear in the books of company it being given that the company is depreciation by fixed installment method at 10% per annum

Answered by admin @ 23/08/2021

Answer:

hey.

the value of the machinery after the depreciation will be 36,500

A company whose accounting year is the calendar year

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