Purchased machinery
This query is : Resolved
02 January 2014
Dear All
I your company we purchased a machinery cost of Rs.500000/- and transport charges is Rs.25000/- Labour charges Rs.5000/- instalation charges Rs.15000/- what is the machinery cost as per accounts and how the depreciation will be taken.
Question is
What is the Total amount of machinery have to taken
how depreciation to be taken
journal entries how it can be take
Thanking You
Amruth Kumar
I your company we purchased a machinery cost of Rs.500000/- and transport charges is Rs.25000/- Labour charges Rs.5000/- instalation charges Rs.15000/- what is the machinery cost as per accounts and how the depreciation will be taken.
Question is
What is the Total amount of machinery have to taken
how depreciation to be taken
journal entries how it can be take
Thanking You
Amruth Kumar
02 January 2014
Total cost would be 5,00,000+25,000 + 5,000+15,000 =5,45,000
Depreciation on the basis on period held as asset till 31.3.2014 on rs 5,45,000
Journal entries:
1. for purchasing machine:
Machinery A/c...dr 5,45,000
To Cash/Bank A/c 5,45,000
2. Depreciation
Depreciaition on Machinery A/c...
To Machiney A/C
Depreciation on the basis on period held as asset till 31.3.2014 on rs 5,45,000
Journal entries:
1. for purchasing machine:
Machinery A/c...dr 5,45,000
To Cash/Bank A/c 5,45,000
2. Depreciation
Depreciaition on Machinery A/c...
To Machiney A/C
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Refund Annexure-B
- Liable to deduct tds and 44ADA
- Sale of Equity shares for Purchase of Residential Property
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- ECO SUPPLY REPORTIONG IN GSTR-1
- Is Interest applicable for payment made through credit ledger vide DRC03 for FY 2020-21 & 2021-22
- CCFS 2026 Schemed
- Subscription paid to foreign customer
- Two seprate Invoice needed
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
