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Ch 16 Depreciation problem 1 |
| Answer» On 1st April 2016 shivam enterprise a second hand machinery for 52000 and spent 2000 on 1st April 2016 Shivam Enterprise purchase second hand machinery for 52000 and spent 2018 unloading on Sterling and 1000 as broke broken of the middle man it was estimated that the machinery will have a Scrap value of 6000 at the end of its useful life which is 10 years on 31st December 2016 repairing and renewals account amount 2500 prepared on 1st October 2018 this machine was sold for Rs 600 and and amount of 600 was paid as Commission to and agent calculate the amount of annual depreciation and rate of depreciation also prepare the machinery account for 3 years assuming that that form of follow financial year for accounting | |