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Fixed Instalment

On January 1st 2006 A trader purchased a machine for Rs.55,000 and it was estimated that after 10 year, its break up value will be rs.5,000 on January 1, 2007 & July 1, 2009, additional machine were acquired for Rs. 19,000 (residual value rs 1,000 ) &  Rs. 15,800 (residual value rs 800 ) respectively. The working life of both the additional machines is 15 years. Show the machine account for the first four years, if depreciation is written off according to fixed installment method. The accounts are closed on 31st December every year .

Please sir solve this question fast

Gurpreet Singh (UP, India)

Answer from Accounting Education Resources


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Accounting ! Answers: Fixed Instalment
Fixed Instalment
Accounting ! Answers
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