Calculate the amount of depreciation on the machinery

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Reference no: EM132707182

Problem 1: Calculate the amount of depreciation on the machinery for the first 2 years. The machinery was purchased on 1t January, 2006 for Rs. 80,000. Rs. 20,000 was spent on its erection, freight charges. Depreciation is charged at 10 percent per annum on straight line method. The books are closed on 31 March each year.

Reference no: EM132707182

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