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A machine was purchased on 1.1.2015 for BDT 5,00,000. On 1.7.2015 another machine was purchased...

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Accounting

A machine was purchased on 1.1.2015 for BDT 5,00,000. On 1.7.2015 another machine was purchased for BDT 3,00,000. Depreciation is to be provided @ 10% p.a. under Reducing Balance Method.

You are required to show:

(i) Machinery Account for 2015 and 2016;

(ii) Provision for Depreciation Account for 2015 and 2016;

(iii) How did the Machinery Account appear in the Balance Sheet at the end of 2016. [Assume that no Provision for Depreciation Account is maintained]

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