Following is the extract from a Trial Balance: Machinery ₹ 4,00,000 Furniture ₹ 2,00,000
Following is the extract from a Trial Balance:
Additional Information:
Depreciation is to be charged on machinery at 10% p.a. on original cost and on furniture on Book Value.
Show the treatment of depreciation in Final Accounts.
| Particulars | Dr. (₹) | Cr. (₹) |
| Machinery | 4,00,000 | — |
| Furniture | 2,00,000 | — |
| Provision for Depreciation: | ||
| On Machinery | 1,20,000 | |
| On Furniture | 54,200 |
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