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From the following transactions of a concern, prepare the Machinery Account for the year ended 31st March, 2019: 1st April, 2018 : Purchased a second-hand machinery for ₹ 40,000 1st April, 2018 : Spent ₹ 10,000 on repairs for making it serviceable. 30th September, 2018 : Purchased additional new machinery for ₹ 20,000. 31st December, 2018 : Repairs and renewal of machinery ₹ 3,000. 31st March, 2019 : Depreciate the machinery at 10% p.a. |
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Answer» From the following transactions of a concern, prepare the Machinery Account for the year ended 31st March, 2019:
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