On April 1, 2007 a business enterprise purchased amachinery at a cost of 70,000 and incurred
Question:
On April 1, 2007 a business enterprise purchased amachinery at a cost of ₹ 70,000 and incurred ₹ 10,000 for its installation. The machine is being depreciated @ 20% on WDV basis every year. On March 31, 2010 the machine was sold for ₹ 41,500. Show the journal entries for this machine.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Date April 1 2007 April 1 2007 Mar31 2008 Mar31 2009 Mar31 2010 Mar 31 2010 Journal Proper Particula...View the full answer
Answered By
Sandhya Sharma
I hold M.Sc and M.Phil degrees in mathematics from CCS University, India and also have a MS degree in information management from Asian institute of technology, Bangkok, Thailand. I have worked at a international school in Bangkok as a IT teacher. Presently, I am working from home as a online Math/Statistics tutor. I have more than 10 years of online tutoring experience. My students have always excelled in their studies.
119+ Reviews
214+ Question Solved
Related Book For 
Question Posted:
