effect of entry

if my draft net profit is 60000 rs before charging the below one entry then what will be effect of the entry on profit and what will be my profit.

repairs to machinery of rs 10000 was wrong capitalised to machinery account and thereon charged 20% depriciation

please reply

rectify if i am wrong


first of all my profit will go down by 10000 becouse i will charge 10000 to repairs

my entry will be
repairs to machinery a/c debit (nominal a/c)
To machinery account a/c

and then i will increase my profit by 2000 that i will credit to depriciation
a/c


please reply
Replies (1)
Ur net profit will be Rs 52000/-. Ur entry above is correct.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
14 October 2026
Accountant

Rize.farm

Bengaluru

B.Com

View Details
Company
12 October 2026
AUDIT , ACCOUNTS AND TAXATION

KDSS

New Delhi

B.Com

View Details
Company
23 October 2026
Sr. Accountant

SANKARAN & KRISHNAN

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 October 2026
Articled Assistant

RRPM & Associates LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 20 October 2026
CA ARTICLE

AMKN & CO

Noida

CA Inter

View Details
Company
ARTICLESHIP 23 October 2026
Articled Trainee

J Y & CO

Hyderabad

CA Inter

View Details
Company
30 September 2026
Senior Accounts Executive

Codeboard Technology

Chennai

MBA

View Details
Company
Featured 03 October 2026
Accountant

A P Lodha and Associates

Jalna

B.Com

View Details