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A machine was purchased for 180000 …

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A machine was purchased for 180000 on 1st July 2015 depreciation was charged annually @ 10% on diminishing balance Method 1 by 4 of the machine was sold on 1st October 2017 for 36000 prepare machinery account for the year ended 31st March 2016 to 2018 of the books are closed on 31st March every year

Posted by Manpreet Kaur 6 years, 11 months ago

CBSE > Class 11 > Accountancy

1 answers

Sagar Thakur 6 years, 11 months ago

Machinery Account 1-7-15 To Bank A/c ₹1,80,000. 31-3-16 By Depreciation ₹13500. By Bal c/d ₹166500 1-4-16 To Bal b/d ₹166500 31-3-17 By Dep. ₹16650 By Bal c/d ₹149850 1-4-17 To Bal b/d ₹ 149850 1-10-17 By Dep (on 1/4 of machine) ₹1873 By Bank ₹36000 To P&L A/c (gain on sale) ₹ 411 31-3-18 By Dep.(3/4 of machine) ₹ 11239 By Bal c/d ₹1,01,149/-. ??

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