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On 1st April 2016 a firm purchased a machinery for8,00,000. On 1st Oct. in the same accounting year, anadditional machinery costing 4,00,000 was purchased. OnOckist 2017, the machinery purchased on 1st April 2018 wassold off for 3 3,60,000. On 1st October 2018, a newmachinery was purchased for 10,00,000 while themachinery purchased on 1st October 2016 was sold for3,40.000 on the same date. The firm provides depreciationon its machinery @ 10% p.a. on original cost 31st Marchevery year.Prepare Machinery Account (ii) Provision for DepreciationAccount (iii) Machinery Disposal Account |
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