MGT101 GDB 2022 || MGT101 GDB SOLUTION 2022 || Solution in Decription
MGT101 GDB Solution
1. Provision for Depreciation
Value of machinery =120000
Useful life = 5 years
Depreciation per year= 120000/5=24000
Depreciation this year=24000/9=18000
2. Net Book value to be presented on 31 Dec 2021
=120000-18000=102000
3. Accounting Principle Violated
Matching Principle
4. Correct Amount of Profits
Profit= 560000
Less Depreciation this year= (18000)
Less Uncollectable = (18000)
_______________
524000
