Year 10 - Accounts - 2.9.14

Thai Sikh International School

E-Learning Programme – Online Assignment –   02/09/2014

Name :                                                                                                     Subject :Accounting 

Year   :  10A/B                                                                                         Schedule No. :  1                               

   1.     Anil  Brothers purchased Machinery for $ 55000 on January 1, 2010. They further     

         spent on it for installation and other capital expenses $ 5000. 

It further purchased a machine costing $ 10000 on 1^st October 2012. The accounting year ends on 31^st December every year and depreciation is to be provided at 10% per annum on Reducing balance method.

Prepare machinery account and Provision for depreciation account for the three years.