Depreciation has to be provided at 10% p.a. on the original cost. You are required to show the…


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Depreciation has to be provided at 10% p.a. on the original cost. You are required to show the… 2 answers below ยป Model: Provision for Depreciation: On Jan 1, 2006, ABC Ltd purchased a machinery for Rs 12,00,000. On July 1, 2008, a part of the machinery purchased on Jan 1, 2006 for Rs 80,000 was sold for Rs 45,000 and a new machinery at a cost of Rs 1,58,000 was purchased and installed on the same date. Depreciation has to be provided at 10% p.a. on the original cost. You are required to show the necessary ledger accounts if: (i) Provision for Depreciation Account is maintained and (ii) Provision for Depreciation Account is not maintained. Jun 11 2014 04:17 PM

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