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On 1st April 2010 plant and machinery was purchased for 1,20000 New machinery was purchased on 1st of October 2010 for 50000 and on 1st July 2011 for 25000 on 1st January 2013 s machinery purchased on 1st April 2010 was sold for 6000 prepare plant and machinery account for three years after providing depreciation at 10% p.a on straight line method accounts are closed on 31st March every year?
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On 1st April 2010 plant and machinery was purchased for 1,20000 New ma...
Plant and Machinery Account

Year 1 (2010-2011)
- Opening Balance: 0
- 1st April 2010: Purchase of plant and machinery for 1,20,000
- Depreciation for the year: 10% of 1,20,000 = 12,000
- Closing Balance: 1,20,000 - 12,000 = 1,08,000

Year 2 (2011-2012)
- Opening Balance: 1,08,000
- 1st October 2010: Purchase of new machinery for 50,000
- 1st July 2011: Purchase of new machinery for 25,000
- Depreciation for the year: 10% of (1,08,000 + 50,000 + 25,000) = 18,300
- Closing Balance: 1,08,000 + 50,000 + 25,000 - 18,300 = 1,64,700

Year 3 (2012-2013)
- Opening Balance: 1,64,700
- 1st January 2013: Sale of machinery purchased on 1st April 2010 for 6,000
- Depreciation for the year: 10% of (1,64,700 - 6,000) = 15,570
- Closing Balance: 1,64,700 - 6,000 - 15,570 = 1,43,130

Year 4 (2013-2014)
- Opening Balance: 1,43,130
- Depreciation for the year: 10% of 1,43,130 = 14,313
- Closing Balance: 1,43,130 - 14,313 = 1,28,817

Year 5 (2014-2015)
- Opening Balance: 1,28,817
- Depreciation for the year: 10% of 1,28,817 = 12,882
- Closing Balance: 1,28,817 - 12,882 = 1,15,935

Year 6 (2015-2016)
- Opening Balance: 1,15,935
- Depreciation for the year: 10% of 1,15,935 = 11,594
- Closing Balance: 1,15,935 - 11,594 = 1,04,341

Year 7 (2016-2017)
- Opening Balance: 1,04,341
- Depreciation for the year: 10% of 1,04,341 = 10,434
- Closing Balance: 1,04,341 - 10,434 = 93,907

Year 8 (2017-2018)
- Opening Balance: 93,907
- Depreciation for the year: 10% of 93,907 = 9,391
- Closing Balance: 93,907 - 9,391 = 84,516

Year 9 (2018-201
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On 1st April 2010 plant and machinery was purchased for 1,20000 New machinery was purchased on 1st of October 2010 for 50000 and on 1st July 2011 for 25000 on 1st January 2013 s machinery purchased on 1st April 2010 was sold for 6000 prepare plant and machinery account for three years after providing depreciation at 10% p.a on straight line method accounts are closed on 31st March every year?
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On 1st April 2010 plant and machinery was purchased for 1,20000 New machinery was purchased on 1st of October 2010 for 50000 and on 1st July 2011 for 25000 on 1st January 2013 s machinery purchased on 1st April 2010 was sold for 6000 prepare plant and machinery account for three years after providing depreciation at 10% p.a on straight line method accounts are closed on 31st March every year? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about On 1st April 2010 plant and machinery was purchased for 1,20000 New machinery was purchased on 1st of October 2010 for 50000 and on 1st July 2011 for 25000 on 1st January 2013 s machinery purchased on 1st April 2010 was sold for 6000 prepare plant and machinery account for three years after providing depreciation at 10% p.a on straight line method accounts are closed on 31st March every year? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st April 2010 plant and machinery was purchased for 1,20000 New machinery was purchased on 1st of October 2010 for 50000 and on 1st July 2011 for 25000 on 1st January 2013 s machinery purchased on 1st April 2010 was sold for 6000 prepare plant and machinery account for three years after providing depreciation at 10% p.a on straight line method accounts are closed on 31st March every year?.
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