Commerce Exam > Commerce Questions > On 1st April 2013 a company purchased a machi...
Start Learning for Free
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.?
Most Upvoted Answer
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.
Attention Commerce Students!
To make sure you are not studying endlessly, EduRev has designed Commerce study material, with Structured Courses, Videos, & Test Series. Plus get personalized analysis, doubt solving and improvement plans to achieve a great score in Commerce.
|
Explore Courses for Commerce exam
|
|
Top Courses for CommerceView all
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.?
Question Description
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.?.
Solutions 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.? in English & in Hindi are available as part of our courses for Commerce.
Download more important topics, notes, lectures and mock test series for Commerce Exam by signing up for free.
Here you can find the meaning of 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.? defined & explained in the simplest way possible. Besides giving the explanation of
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.?, a detailed solution 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.? has been provided alongside types of 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.? theory, EduRev gives you an
ample number of questions to practice 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.? tests, examples and also practice Commerce tests.
|
|
Explore Courses for Commerce exam
|
|
Suggested Free Tests
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup