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On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery?
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On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st ...
Machinery Details:
- Machinery purchased on 1st January 2016: Rs. 2,50,000
- Addition made on 1st June 2017: Rs. 50,000
- Addition made on 1st March 2018: Rs. 32,000
Depreciation Calculation:
- Depreciation rate: 10%
- Original cost: Rs. 2,50,000 + Rs. 50,000 + Rs. 32,000 = Rs. 3,32,000
- Depreciation for each year: 10% of Rs. 3,32,000 = Rs. 33,200
Sale of Machinery:
- Machinery sold on 30th June 2019: Original value Rs. 40,000
- Selling price: Rs. 30,000
- Depreciation on sold machinery: Rs. 40,000 - Rs. 30,000 = Rs. 10,000
Calculation of Machinery Value:
- Machinery value on 1st January 2016: Rs. 2,50,000
- Additions made: Rs. 50,000 + Rs. 32,000 = Rs. 82,000
- Total Machinery value: Rs. 2,50,000 + Rs. 50,000 + Rs. 32,000 = Rs. 3,32,000
- Depreciation till 30th June 2019: Rs. 33,200 x 3.5 years = Rs. 1,16,200
- Book value of Machinery on 30th June 2019: Rs. 3,32,000 - Rs. 1,16,200 = Rs. 2,15,800
Therefore, the machinery value on 30th June 2019 after the sale of machinery is Rs. 2,15,800.
- Machinery purchased on 1st January 2016: Rs. 2,50,000
- Addition made on 1st June 2017: Rs. 50,000
- Addition made on 1st March 2018: Rs. 32,000
Depreciation Calculation:
- Depreciation rate: 10%
- Original cost: Rs. 2,50,000 + Rs. 50,000 + Rs. 32,000 = Rs. 3,32,000
- Depreciation for each year: 10% of Rs. 3,32,000 = Rs. 33,200
Sale of Machinery:
- Machinery sold on 30th June 2019: Original value Rs. 40,000
- Selling price: Rs. 30,000
- Depreciation on sold machinery: Rs. 40,000 - Rs. 30,000 = Rs. 10,000
Calculation of Machinery Value:
- Machinery value on 1st January 2016: Rs. 2,50,000
- Additions made: Rs. 50,000 + Rs. 32,000 = Rs. 82,000
- Total Machinery value: Rs. 2,50,000 + Rs. 50,000 + Rs. 32,000 = Rs. 3,32,000
- Depreciation till 30th June 2019: Rs. 33,200 x 3.5 years = Rs. 1,16,200
- Book value of Machinery on 30th June 2019: Rs. 3,32,000 - Rs. 1,16,200 = Rs. 2,15,800
Therefore, the machinery value on 30th June 2019 after the sale of machinery is Rs. 2,15,800.
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On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery?
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On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery?.
On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery?.
Solutions for On 1st January 2016, Machinery was purchased for Rs. 2,50,000. On 1st June, 2017 additions were made by purchasing a machinery for Rs. 50,000. On 1st March 2018, another machinery was purchased for Rs. 32,000. On 30th June 2019, machinery of the original value of Rs. 40,000 on 1-1-2016 was sold for Rs. 30,000. Depreciation is charged at 10% on original cost. Show the machinery? in English & in Hindi are available as part of our courses for UPSC.
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