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can anyone give the journal entry with the amount
10 tv bought in the business for 1000 each, out of which
one is installed.
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Answer Posted / khan
Dear Mr.Satyaki Raju
Sir, can you please tell us what will be the journal entry
for above doubts, i wait for your response
Thanks & regards,
Khan
| Is This Answer Correct ? | 3 Yes | 0 No |
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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
