Neena Textile Mills purchased on 1st January, 2021 a plant for ₹ 8,00,000. The firm charges depreciation @ 15% p.a. according to written Down Value Method
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A boiler was purchased from abroad for ₹ 10,000. Shipping and forwarding charges ₹ 2,000, Customs Duty ₹ 7,000 and expenses of installation amounted to ₹ 1,000
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A Ltd. has the following balances on 1st April, 2022 Machinery Account 2,00,000 Provision for Depreciation Account 90,000
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The following balances exist in the books of X Ltd. Machinery Account 5,00,000 Provision for Depreciation Account 2,25,000
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Following balances exist in the books of Rama Bros.
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On 1st April, 2021, Machinery Account of Karan shows a balance of ₹ 96,000 (original cost ₹ 1,20,000). On 1st August, 2021, a machine for ₹ 60,000 was purchased and ₹ 9,000 were incurred for its freight and installation
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A firm purchased a second-hand machine on 1st April, 2019 and paid ₹ 1,40,000 for it. It spent on its overhauling and installation ₹ 20,000
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A firm whose accounting year is a financial year, purchased on 1st July, 2019 machinery for ₹ 30,000. It further purchased machinery on 1st January, 2020 for ₹ 20,000 and on 1st October, 2020 for ₹ 10,000
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M/s Sharad Bros. purchased machinery on 1st April, 2019 for ₹ 50,000. On 1st October, 2020, additions were made of ₹ 10,000
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Muskan Traders purchased four machines of ₹ 25,000 each on 1st July, 2019. On 30th September, 2020, the firm sold one of the machine purchased on 1st July, 2019 at a lost of ₹ 2,500
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