1) Bought machinery Rs 50,000.
2) paid cartage on machinery Rs 2,000.
12 Replies
PANDIAN,CMA INTER
(student)
(122 Points)
Replied 14 October 2013
1, Machinary a/c dr 50,000
To cash/bank a/c 50,000
(being machinery purchased for Rs.50,000)
2, Carriage on machinery a/c dr 2000
To cash a/c 2000
(Being carriage paid on machinery purchase)
*RENU SINGH *
(✩ §m!ℓ!ñġ €ม€§ fℓม!ñġ ђ♪gђ✩ )
(21627 Points)
Replied 14 October 2013
Machinery a/c Dr. 52,000
To Bank 52,000
(being the machinery purchased and cartage expenditure paid thereof )
Abhishek Kumar
(student)
(371 Points)
Replied 14 October 2013
Machinery A/c Dr. 52000
To Bank A/c 52000
(being machinery bought and cartage paid on machinery)
venkatesh
(learner)
(116 Points)
Replied 15 October 2013
Machinery A/c Dr 52,000
To Bank A/c Cr 52,000
( Being the machinery purchased with carriage expenses paid)
Pratiksha Dhaker
(CA FINAL)
(97 Points)
Replied 15 October 2013
Machinery A/C Dr. 52000
To Cash/ Bank a/c 52000
(Being Machinery purchased for Rs. 50000 & Cartage exp. of Rs.2000
Cartage exp. capitalised so added to the cost of Machinery.)
Anjani Kumar
(Manager)
(128 Points)
Replied 15 October 2013
1, Machinary a/c dr 50,000
To
cash/bank a/c 50,000
(being machinery purchased for Rs.50,000)
2, Carriage on machinery a/c dr 2000
To
cash a/c 2000
(Being carriage paid on machinery purchase)
3 Machinary a/c dr 2000
To
Carriage on machinery a/c 2000
( Being Carriage charges capitalized to machinery )
abhishek
(student)
(21 Points)
Replied 15 October 2013
Machinery a/c dr 52000
To
Cash/bank a/c 52000
(Being cost+non recuring expenses in relation to purchase of machinery paid)
Anbuselvam
(CMA Final Pursuing)
(240 Points)
Replied 17 October 2013
As Per AS 10, carriage of 2000 should be added with cost of machinery.
Components of Cost:
1 The cost of an item of fixed asset comprises its purchase price, including
import duties and other non-refundable taxes or levies and any directly
attributable cost of bringing the asset to its working condition for its intended
use; any trade discounts and rebates are deducted in arriving at the purchase
price. Examples of directly attributable costs are:
(i) site preparation;
(ii) initial delivery and handling costs;
(iii) installation cost, such as special foundations for plant; and
(iv) professional fees, for example fees of architects and engineers.
The cost of a fixed asset may undergo changes subsequent to its acquisition
or construction on account of exchange fluctuations, price adjustments,
changes in duties or similar factors.
monika kasat
(ca finalist)
(37 Points)
Replied 24 October 2013
machinary a|c dr to bank/cash for rs. 52000
akshay modi
(accounts)
(21 Points)
Replied 02 March 2015
Machinery A/c Dr 52,000
To Bank A/c Cr 52,000
(Being the machinery purchased with carriage expenses paid)
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