banner_ad

Purchased machinery

This query is : Resolved 
Profile Image

Profile Image

(Querist)
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
Profile Image

CS,CA F,Numrologi TusharSampat

Profile Image

CS,CA F,Numrologi TusharSampat (Expert)
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
Featured 02 May 2026
Senior Executive

hitesh chandwani & co

Pune

B.Com

View Details
Company
Featured 29 April 2026
Manager- Finance and Compliance

Naveen Fintech Pvt Ltd

Kolkata

CA Inter

View Details
Company
Featured 14 April 2026
GST CONSULTANT

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 13 April 2026
GST CONSULTANCY

Abhishek G Agrawal & Co.

Korba

CA Final

View Details
Company
Featured 28 March 2026
Accountant

Ashok Amol & Associates

New Delhi

B.Com

View Details
Company
Featured 28 March 2026
CA Final

Ashok Amol & Associates

New Delhi

CA Final

View Details
Company
Featured ARTICLESHIP 19 March 2026
Article Assistant

Gupta Sachdeva & Co. Chartered Accountants

New Delhi

CA Final

View Details
Company
Featured 14 March 2026
Associate CA

N N V Satish&co

Hyderabad

CA

View Details