Answer to Question #62547 in Accounting for Asif

Question #62547
On 01-01-2000 a firm purchases machinery amounting to Rs. 500,000 on 1-07- 2002 it buys additional machine worth Rs. 100,000 and spends Rs. 10,000 on its erection. The accounts are closed each year on 31st December. The firm charges annual depreciation @ 10%. Required: Machinery Account for 5 years under (i) Straight line Method (ii) Reducing balance method.
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Expert's answer
2016-10-17T14:11:04-0400

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