An asset is purchased on 1st july 1995 at a cost of Rs:14000 and spent Rs:1000 on its installation.
The firms right of dep...
000 on its installation.
e is on 31st dec every




              Rs
                      750

                   14250

...
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Msexcel 15 Depreciation1

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Msexcel 15 Depreciation1

  1. 1. An asset is purchased on 1st july 1995 at a cost of Rs:14000 and spent Rs:1000 on its installation. The firms right of depreciation at 10% of original cost every year. Closing date is on 31st dec every year.Prepare the machinery account and depreciation account. ASSET ACCOUNT Date Particular RS Date Particular 1st july 95 To cash 15000 31st dec 95 By depreciation By bal C/D 15000 1st jan 96 To bal B/D 14250 31st Dec 96 By depreciation By bal C/D 14250 1st jan 97 To bal B/D 12750 31st Dec 97 By depreciation By bal C/D 12750 DEPRECIATION ACCOUNT Date Particulars Rs Date Particular 31st dec 95 To machinery ac 750 31st dec 95 By P&L a/c 31st dec 96 To machinery ac 1500 31st dec 96 By P&L a/c 31st dec 97 To machinery ac 1500 31st dec 97 By P&L a/c
  2. 2. 000 on its installation. e is on 31st dec every Rs 750 14250 15000 1500 12750 14250 1500 11250 12750 Rs 750 1500 1500

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