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On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.?
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On 1st April 2013 a company purchased a machinery for 10000 and spent ...
Details of Machinery Purchases
- 1st April 2013: Purchased Machinery for 10000
- Spent 2000 on the machinery
- 1st Oct 2015: Purchased a second-hand machinery for 4000
- 1st April 2017: Sold the machinery purchased on 1st Oct 2015 for 4600
Depreciation Calculation
- Depreciation rate: 10%
- Depreciation method: Diminishing balance method
- Year-end: 31st March
Depreciation Calculation for the Machinery Purchased on 1st April 2013
- Depreciation for year ending 31st March 2014: 10000*10% = 1000
- Carrying value as of 31st March 2014: 10000 - 1000 = 9000
- Depreciation for year ending 31st March 2015: 9000*10% = 900
- Carrying value as of 31st March 2015: 9000 - 900 = 8100
- Depreciation for year ending 31st March 2016: 8100*10% = 810
- Carrying value as of 31st March 2016: 8100 - 810 = 7290
- Depreciation for year ending 31st March 2017: 7290*10% = 729
- Carrying value as of 31st March 2017: 7290 - 729 = 6561
Depreciation Calculation for the Second-Hand Machinery Purchased on 1st Oct 2015
- Depreciation for year ending 31st March 2016: 4000*10% = 400
- Carrying value as of 31st March 2016: 4000 - 400 = 3600
- Depreciation for year ending 31st March 2017: 3600*10% = 360
- Carrying value as of 31st March 2017: 3600 - 360 = 3240
Depreciation Calculation for the Machinery Sold on 1st April 2017
- Depreciation for year ending 31st March 2018: 3240*10% = 324
- Accumulated depreciation as of 1st April 2017: 1000+900+810+729+400+360 = 4199
- Book value as of 1st April 2017: 3240 - 4199 = -959 (Loss on sale of machinery)
In summary, the company purchased two machineries in 2013 and 2015 respectively. The depreciation
Community Answer
On 1st April 2013 a company purchased a machinery for 10000 and spent ...
Profit on sale of machinery is Rs 1180.
Balance of machinery (purchased on 1st April 2013 ) on 1St April 2018 is Rs 7086.
Balance of machinery (purchased on 1st April 2013 ) on 1St April 2018 is Rs 7086.
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On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.?
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On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.?.
On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for On 1st April 2013 a company purchased a machinery for 10000 and spent 2000 . On 1 Oct 2015 it purchased a second hand for 4000 . The purchase of machine on 1 Oct 2015 was sold on 1 April 2017 for 4600 the depreciation provide 10percent on diminishing method year ending on 31 March 2018.?.
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