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Answer Posted / karthick165
Dilapidation is a term meaning in general a falling into
decay, but more particularly used in the plural in English
law for
1. the waste committed by the incumbent of an
ecclesiastical living
2. the disrepair for which a tenant is usually liable
when he has agreed to give up his premises in good repair.
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Short Answer on ________Accounts Payables
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
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