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Business, 19.04.2021 14:20 justintisdale95

On 1 ^ (st) April 2016M / s Punawala & Co Latur Purchased Equipment of Rs.50000 Against cheque. They decided to follow Fixed Instalment Method of Depreciation. The Life of the equipment is estimated as 8 Years and scrap value of the equipment at the end of its life is estimated as Rs.2000 on 1 ^ 11 Jan 2019 entire Equipment is sold for Rs.35000. The Firm closes its Books of Accounts on Prepare Equipment Account and Depreciation Account March each year. 31^ *​

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On 1 ^ (st) April 2016M / s Punawala & Co Latur Purchased Equipment of Rs.50000 Against cheque....
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