Depreciation accounting

koi to solve karo

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Depreciation as per WDV upto 31.03.2008 = (291600/0.9*0.9*0.9 - 291600)  = 108400

Depreciation as per SLM upto 31.03.2008 = (291600/0.9*0.9*0.9) * .15*36/12 = 180000

Therefore Extra Depreciation to be charged to profit and loss due to change in method of accounting i.e. due to change in accounting policy = Rs. 79310

Depreciation for 08-09: (400000 - 90000) * .15 + 90000*.15*3/12 + 150000*.15*3/12= 55500

Book Value of Machinery Sold on 30.06.08 as per SLM = 90000 - 90000*.15*39/12 = 46125

Sale proceeds                                                                                                             = 60000

                                                                                                          profit on sale : 13875

Closing Balance of Plant and Machinery A/c as on 31.03.09 = (400000-90000) - 310000*.15*4 + 150000 - 5625 = 268375

I agree with Saurav.