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On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(?.

Solutions for On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? defined & explained in the simplest way possible. Besides giving the explanation of On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(?, a detailed solution for On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? has been provided alongside types of On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? theory, EduRev gives you an ample number of questions to practice On 1 April, 2022, LMP Co. which depreciates its machinery @ 10% p.a. on diminishing balance method, had 9,72,000 to the debit of Machinery Account. On 1 October, 2022, part of machinery purchased on 1st April, 2020 for ₹80,000 was sold for 45,000.Also, a new machinery at a cost of ₹1,50,000 was purchased on 14 October, 2022 and installed on the same date and installation charges being 8,000.The company changed the method of depreciation from diminishing balance method to straight line method with effect from 1 April, 2020 and adjusted the difference on 31 March, 2023. The rate of depreciation remains the same.Show the Machinery Account and ascertain the amount chargeable to Profit and Loss Account as depreciation in 2022-23.(? tests, examples and also practice UPSC tests.