The vital record accounts

Reference no: EM13904493

On 1st April 2007, Glory Ltd., acquired a machine for Rs. 1,10,000 and spent Rs. 6,000 on its establishment. The normal existence of the machine is 4 years toward the end of which the evaluated scrap quality will be Rs. 16,000.

Seeking to supplant the machine on the expiry of its life, the organization builds up a sinking store. Ventures are relied upon to understand 12% hobby.

On 31st March, 2011, the machine was sold off as scrap for Rs. 18,000 and the ventures were acknowledged at 5% not exactly the book esteem. On 1st April, 2011, another machine was introduced at an expense of Rs. 1,25,000, Sinking store tables demonstrate that Re. 0.2092 contributed every year will deliver Re. 1 toward the end of 4 years at 12%. Demonstrate the vital record accounts in the books of Glory Ltd. for every one of the years.

Reference no: EM13904493

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