Accounts
This query is : Resolved
16 May 2013
the opening balance of machine is 2,00,000.,when the original amt of machine was 10,00,00.the company charge 10% depriciation on slm on such assert costing 5,00,000 with accumilated depriciation as the beginning of the year of 80,000 was disposed off during the this year..
q--the balance of the accumulated dep acc at the end of the year considering year's depriciation chrge would be
ans -1,70,000
pls someone explain me how it done..????
q--the balance of the accumulated dep acc at the end of the year considering year's depriciation chrge would be
ans -1,70,000
pls someone explain me how it done..????
CA Suraj Lakhotia
(Expert)
17 May 2013
Can you type the actual question given in the book?
There are some typo errors.
Anyways I have attempted solving your question -
Opening Balance in Depreciation A/c = 2,00,000
Less- depreciation on Asset sold = 80,000
Add - Depreciation for current year (10% of 5,00,000) = 50,000/=
Balance in depreciation Account at the year end = 1,70,000/-
There are some typo errors.
Anyways I have attempted solving your question -
Opening Balance in Depreciation A/c = 2,00,000
Less- depreciation on Asset sold = 80,000
Add - Depreciation for current year (10% of 5,00,000) = 50,000/=
Balance in depreciation Account at the year end = 1,70,000/-
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04 July 2013
Yes I agree with the expert
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