Question : Apple Ltd. has Machinery written down value of which On 1st April 2019 was Rs 6,60,000 and on 31st March 2020 was Rs 7,50,000. Depreciation for the year was Rs 40,000. At the beginning of the year, an item of machinery was sold for Rs 25,000 which had a written-down value of Rs 20,000
Question:
Calculate the amount of purchase of machinery.
Option 1: Rs 2,00,000
Option 2: Rs 1,55,000
Option 3: Rs 1,50,000
Option 4: None of the above
Answer (1)
15th Jan, 2024
Correct Answer: Rs 1,50,000
Solution : Answer = Purchase of machinery is Rs 1,50,000.
| Machinery a/c | |||
| To Bal b/d | 6,60,000 | By Depreciation | 40,000 |
| To Profit & loss a/c(profit) | 5,000 | By Bank(sale) | 25,000 |
| To Bank (Purchases) | 1,50,000 | By Balc/d | 7,50,000 |
| 8,15,000 | 8,15,000 | ||
Hence, the correct option is 3.
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