Question

19. Babu purchased on 1st April 2017. a machine for 6.000. On 1st October, 2017, he als
purchased another machine for 5,000. On 1st October, 2018, he sold the machine purchased
on 1st April 2017 for 4.000.
It was decided that Depreciation @ 10% p.a. was to be written off every year under
Diminishing Balance Method.
Assuming the accounts were closed on 31st March every year, show the Machinery Account
for the years ended 31st March, 2018 and 2019,
[Balance on 31st March, 2019. 74,275; Loss on Sale of Machine-1,130)​

Answer 1

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Explanation:

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