A factory is engaged in the production of silk fabric of

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A Factory is engaged in the production of silk fabric of different types. Mr. john one of the directors, bought latest embroidery machines for its newly established embroidery unit for Rs. 2,450,000/- on 1st January 2011. The company depreciates machinery @10% p.a. The machinery will be disposed off at the end of 5th year at Rs.1,280,000/-. The accounts are closed on 31st December each year. Prepare the Fixed Asset Schedule regarding machinery showing the columns of Years, Cost, Depreciation charges, Accumulated depreciation and Written down value for five years using the following methods separately:

a) Straight line method

b) Diminishing balance method

Reference no: EM13610686

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