Question

10 Marks
3. X purchased a machinery on 1st January 2019 for 4,80,000 and spent
20,000 on its installation. On July 1, 2019 another machinery
costing 2,00,000 was purchased. On 1st July, 2020 the machinery
purchased on 1st January, 2019 having become scrapped and was
sold for R2,90,000 and on the same date fresh machinery was
purchased for 35,00,000. Depreciation is provided annually on 31st
December at the rate of 10% p.a. on written down value. Prepare
machinery Account for the years 2019 and 2020.
5 Marks​

Answer 1

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Explanation:

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