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1.1.21 - purchased a second hand machinery for 200000rs.
1.1.21 - spent. 50000rs on repair for making is serviceable
30.6.21 - purchased additional new machinery for 350000rs
30.6.21 - installation charges of new machine 15000rs
1.4.22 - repairs and maintenance of machinery 30000rs.
30.6.22 sold second hand machinery purchased on 1.1.21 for 155000rs.
31.12.22 Depreciate the machinery at 10% per annum by WDV method
Prepare the machinery account for the year ending 31st March 2022?
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1.1.21 - purchased a second hand machinery for 200000rs.1.1.21 - spent...
Machinery Account for the year ending 31st March 2022

Opening Balance
- Second hand machinery purchased on 1.1.21: 200000rs

Purchase and Repair Expenses
- Repair expenses on 1.1.21: 50000rs
- Additional new machinery purchased on 30.6.21: 350000rs
- Installation charges for new machine on 30.6.21: 15000rs
- Repairs and maintenance expenses on 1.4.22: 30000rs

Sale
- Second hand machinery sold on 30.6.22: 155000rs

Depreciation
- Depreciate machinery at 10% per annum by WDV method

Calculation of Depreciation
- Depreciation for the year: (200000 + 50000 + 350000 + 15000 + 30000) * 10% = 55500rs
- Closing balance: 200000 + 50000 + 350000 + 15000 + 30000 - 155000 - 55500 = 55500rs
Therefore, the closing balance of the machinery account for the year ending 31st March 2022 will be 55500rs.
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1.1.21 - purchased a second hand machinery for 200000rs.1.1.21 - spent. 50000rs on repair for making is serviceable 30.6.21 - purchased additional new machinery for 350000rs30.6.21 - installation charges of new machine 15000rs1.4.22 - repairs and maintenance of machinery 30000rs.30.6.22 sold second hand machinery purchased on 1.1.21 for 155000rs.31.12.22 Depreciate the machinery at 10% per annum by WDV method Prepare the machinery account for the year ending 31st March 2022?
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1.1.21 - purchased a second hand machinery for 200000rs.1.1.21 - spent. 50000rs on repair for making is serviceable 30.6.21 - purchased additional new machinery for 350000rs30.6.21 - installation charges of new machine 15000rs1.4.22 - repairs and maintenance of machinery 30000rs.30.6.22 sold second hand machinery purchased on 1.1.21 for 155000rs.31.12.22 Depreciate the machinery at 10% per annum by WDV method Prepare the machinery account for the year ending 31st March 2022? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about 1.1.21 - purchased a second hand machinery for 200000rs.1.1.21 - spent. 50000rs on repair for making is serviceable 30.6.21 - purchased additional new machinery for 350000rs30.6.21 - installation charges of new machine 15000rs1.4.22 - repairs and maintenance of machinery 30000rs.30.6.22 sold second hand machinery purchased on 1.1.21 for 155000rs.31.12.22 Depreciate the machinery at 10% per annum by WDV method Prepare the machinery account for the year ending 31st March 2022? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 1.1.21 - purchased a second hand machinery for 200000rs.1.1.21 - spent. 50000rs on repair for making is serviceable 30.6.21 - purchased additional new machinery for 350000rs30.6.21 - installation charges of new machine 15000rs1.4.22 - repairs and maintenance of machinery 30000rs.30.6.22 sold second hand machinery purchased on 1.1.21 for 155000rs.31.12.22 Depreciate the machinery at 10% per annum by WDV method Prepare the machinery account for the year ending 31st March 2022?.
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