Charge depreciation @ 10% p a for two month on machine costing Rs 30,000 How do you journalise this - Accountancy - Recording of Transactions - I

Question

Charge depreciation @ 10% p a for two month on machine costing
Rs 30,000
How do you journalise this and why does the amount become
500?

Manisha Arora · Accepted Answer

Dear Student, the solution of query is as follows:

Journal

Date
Particulars
L F
Debit
Amount
(Rs)
Credit
Amount
(Rs)

Depreciation A/c
Dr

To Machinery A/c

(Depreciation @ 10% p a charged on
Machinery for two months)

In response to your second query, Calculation of Depreciation is as
follows:

Depreciation on Machinery = 30,000×10100×212=Rs 500

Journal
Date	Particulars		L.F.	Debit Amount (Rs)	Credit Amount (Rs)

	Depreciation A/c	Dr.
	To Machinery A/c
	(Depreciation @ 10% p.a. charged on Machinery for two months)

Charge depreciation @ 10% p.a for two month on machine costing Rs 30,000. How do you journalise this and why does the amount become 500?