The following balances appear in the books of Crystal Ltd. on Jan. 1, 2023: Machinery Account 15,00,000, Provision for depreciation account 5,00,000
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Binny Textiles Ltd. which depreciates its machinery at 20% p.a. on diminishing balance method, purchased a machine for ₹ 6,00,000 on 1st October, 2020
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On 1st April 2020, Banglore Silk Ltd. purchased a machinery for ₹ 20,00,000. It provides depreciation at 10% p.a. on the Written Down Value Method and closes its books on 31st March ever year
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On 1st August, 2020, Hindustan Toys Ltd. purchased a plant for ₹ 12,00,000. The firm writes off depreciation at 10% p.a. on the diminishing balance and the books are closed on 31st March each year
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A Limited purchased a machine on 1st July 2022 for ₹ 3,00,000 and on 1st January 2024 bought another machinery for ₹ 2,00,000. On 1st August 2024 machine bought in 2022 was sold for ₹ 1,60,000
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X Ltd. purchased a plant on 1st July, 2020 costing ₹ 5,00,000. It purchased another plant on 1st September, 2020 costing ₹ 3,00,000. On 31st December, 2022
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A company purchased second-hand machinery on 1st May, 2019 for ₹ 5,85,000 and immediately spent ₹ 15,000 on its erection. On 1st October, 2020, it purchased another machine for ₹ 4,00,000
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X Ltd. which closes its books of account every year on 31st March, purchased on 1st October, 2019 machinery costing ₹ 4,40,000. It purchased further machinery on 1st April, 2020 costing ₹ 5,20,000
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On 1st July 2021, ABC Ltd. purchases 4 machines for ₹ 80,000 each. The accounting year of the company ends on 31st March every year: Depreciation is provided at the rate of 15% p.a on original cost
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On 1st April, 2021, a Company purchased 6 machines for ₹ 50,000 each. Depreciation at the rate of 10% p.a. is charged on Straight Line Method
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