Question: Old MathJax webview *Do not copy paste this question as the answer which is on chegg is spam and i already reported it..! will report

Old MathJax webview

*Do not copy paste this question as the answer which is on chegg is spam and i already reported it..! will report your answer too if yo do copy/ paste.

Old MathJax webview *Do not copy paste this question as the answer

Do not attempt this question unless you are 100% sure. If the answer is not correct i will give 5 downvotes.. Please help*

which is on chegg is spam and i already reported it..! will

Mr. Vaid of Calcutta purchased the required machine on 1.4.1994 for Rs 65,000. He engaged Kabul to erect the units, who charged Rs 5,000 and agreed to wait a month for his payment. The machinery was depreciated at 10%p.a. on the Fixed Instalment Method -- and accounting year being April-March. On 1.10.1996, a single unit which cost Rs 10,000 originally was sold for a cash price of Rs 7,000. On the same date, a Mr. Vaid of Calcutta purchased the required machine on 1.4.1994 for Rs 65,000. He engaged Kabul to erect the units, who charged Rs 5,000 and agreed to wait a month for his payment. The machinery was depreciated at 10%p.a. on the Fixed Instalment Method --- and accounting year being April-March. On 1.10.1996, a single unit which cost Rs 10,000 originally was sold for a cash price of Rs 7,000. On the same date, a new machine costing Rs 10,000 (paid for by cheque) was installed. Write out the Machinery Account for the years 1994-95, 1995-96, 1996-97 and Machinery Disposal Account

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!