1.21
Illustration 9
One lathe machine whose orginal value was 1,20 000 on 1.4.2013. being the date of installation was sold on
30.9.2015 for 1,00,000. Depreciation is charged at the rate of 10% on reducing balance show machinery account
and assets disposable account.
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Explanation:
machinery A/c........ and machinery disposal A/c
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