18.
On 1st January, 1998, Mohan Bro. purchased a machine for Rs. 50,000. On 1st April, 2000
a part of this machine purchased on 1st Jan., 1998 for Rs. 10,000 was sold for Rs. 4,000.
Depreciation was provided @ 10% p.a. on original cost method.
Prepare machine account and machine disposal account assuming that recording of depre-
ciation by charging to asset account.
[Ans. Loss on sale of machine Rs. 3,750]
Answers
Answer:
Dewali. is a festival of lights and one of the major festivals celebrated by Hindus, Jains and Sikhs. The festival usually lasts five days and is celebrated during the Hindu lunisolar month Kartika (between mid-October and mid-November).One of the most popular festivals of Hinduism, Diwali symbolizes the spiritual "victory of light over darkness, good over evil, and knowledge over ignorance".[11][12][13][14] The festival is widely associated with Lakshmi, goddess of prosperity, with many other regional traditions connecting the holiday to Sita and Rama, Vishnu, Krishna, Yama, Yami, Durga, Kali, Hanuman, Ganesha, Kubera, Dhanvantari, or Vishvakarman. Furthermore, it is, in some regions, a celebration of the day Lord Rama returned to his kingdom Ayodhya with his wife Sita and his brother Lakshmana after defeating Ravana in Lanka and serving 14 years of exile.