ASSEB Higher Secondary Accountancy Practice Questions - Assam ASSEB Higher Secondary Accountancy Examination (Class 11 & 12) Exam

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A firm purchases a new machine for ₹4,00,000 and incurs ₹30,000 on freight and ₹20,000 on installation before it is ready for use. Additionally, ₹5,000 is spent on annual insurance for the machine. What amount should be capitalized in the Machinery Account?

₹4,00,000 ₹4,30,000 ₹4,50,000 ₹4,55,000

Correct Answer:

₹4,50,000

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