Answer Posted / rama
First of all thanque for giving this oppotunity to me,
My self Rama, comming frrom Nizamabad, I have passedout MBA
(Finance&marketing) in 2007 from nagarjuna univercity.
My habby is to play games in system.My aim is where ever I
go I used to shine there.My streath is confidence and
frankness,myweakness is over confidance and
frankness.Because people can never accept frankness.
| Is This Answer Correct ? | 4 Yes | 8 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 fifth 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% per annum at the end of the 5th year the securities were sold for Rs.62,200 and the old machinery was 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
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