1.

Krishna Chaithanya Limited company has the following balances on 1st January, 2017:Machinery Account Rs.2,50,000Provision for Depreciation Account Rs.1,20,000Depreciation was provided @20% p.a on original cost and accounts were closed on 31stMarch every year. On 30th September, 2017 a part of machinery bought for Rs.1,00,000 on1st April, 2014 was sold at loss of Rs.10,000 and a new machinery purchased forRs.2,00,000 on the same date . Prepare Machinery Account and Provision for DepreciationAccount for the year 2017-2018

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