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If repairs of Rs. 100 are done on a machinery then which account will be debited?
- a)Machinery A/c
- b)Repairs A/c
- c)Capital A/c
- d)Wages A/c
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
If repairs of Rs. 100 are done on a machinery then which account will ...
Expenses incurred at the time of purchase of assets on its installation are debited to the asset account. Repairs whereas are done after the asset is put to use, hence, it will not be added to the cost of the asset.
It is a part of revenue expenditure.
Repairs A/c Dr. 100 To Cash A/c 100
(Cash paid for the repairs made to Machinery)
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Community Answer
If repairs of Rs. 100 are done on a machinery then which account will ...
Explanation:
When repairs are done on machinery, it is an expense incurred by the business. Hence, the repairs account will be debited.
Details:
- Repairs are an expense: Repairs are an expense as they are incurred to maintain the machinery in working condition. Hence, they are debited to the repairs account.
- Machinery is a fixed asset: Machinery is a fixed asset as it is used in the business for a long period of time. Hence, it is debited to the machinery account when it is purchased.
- Capital is owner's investment: Capital is the owner's investment in the business. It is credited to the capital account when the owner invests in the business.
- Wages are a revenue expense: Wages are a revenue expense as they are incurred to pay the employees for their work. Hence, they are debited to the wages account.
When repairs are done on machinery, it is an expense incurred by the business. Hence, the repairs account will be debited.
Details:
- Repairs are an expense: Repairs are an expense as they are incurred to maintain the machinery in working condition. Hence, they are debited to the repairs account.
- Machinery is a fixed asset: Machinery is a fixed asset as it is used in the business for a long period of time. Hence, it is debited to the machinery account when it is purchased.
- Capital is owner's investment: Capital is the owner's investment in the business. It is credited to the capital account when the owner invests in the business.
- Wages are a revenue expense: Wages are a revenue expense as they are incurred to pay the employees for their work. Hence, they are debited to the wages account.
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If repairs of Rs. 100 are done on a machinery then which account will be debited?a)Machinery A/cb)Repairs A/cc)Capital A/cd)Wages A/cCorrect answer is option 'B'. Can you explain this answer?
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