Amir Traders purchased a motorcar on 1st Jan,2012 of Rs. 50,000. Depreciation was charged @15% p.a on reducing balance method (Diminishing balance method / written down value method) . 

Calculate depreciation and prepare Motorcar account for 3 years, if the Books are closed on 31st December of every year. 

Max Traders Co. purchased a machinery on 1st July,2012 of Rs. 150,000. Depreciation was charged @12% p.a on diminishing balance method (reducing balance method / written down value method) . 

Calculate depreciation and prepare Machinery account for 3 years, if the Books are closed on 31st December of every year.

Answer rating: 100% (QA)

Calculation of Depreciation on 31122012 5000015 7500 on 31122013 4250015 6375 on 31122014 3612... View the full answer