Manjusha Ltd. purchased a machinery for ₹1,00,000/ – on 1st Janua

Manjusha Ltd. purchased a machinery for ₹1,00,000/ – on 1st January 2001. Depreciation is charged at 10% p.a. on straight line method. After two years the company decided to change the method to written down value at 10% p.a. Prepare machinery a/c for first four years assuming that accounts are closed on 31st December every year.

Answer»

Machinery A/c

Dr					Cr
Date	Particulars	Amount	Date	Particulars	Amount
1/7/2001	Cash	100000	31/12/01	Depreciation (100000 \(\times\) 10/100) Balance c/d	10000 90000
		100000			100000
1/1/2002	Balance b/d	90000	31/12/02	Depreciation (100000 \(\times\) 10/100) Balance c/d	10000 80000
		90000			90000
1/1/2003	Balance b/d	80000	31/12/2003	Depreciation (80000 \(\times\) 10/100) Balance c/d	8000 72000
		80000			80000
1/1/2004	Balance b/d	72000	31/12/2004	Depreciation (72000 \(\times\) 10/100) Balance c/d	8000 72000
		72000			72000
1/1/2005	Balance b/d	64800

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