Question: Q No . 4 Salim & Co bought machine at a cost of Rs . 5 0 0 , 0 0 0 on January 1

Q No.4
Salim & Co bought machine at a cost of Rs.500,000 on January 1,1997 on credit from Sheeraz brothers.
Estimated life of the machine is 5 years and scrap value is Rs.160,000.
Required:
Present schedule of depreciation for 5 years under Diminishing Balance method(Rate 20%).
Last year depreciation should be adjusted to arrive at scrap value:
Q No.4 Salim & Co bought machine at a cost of

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