Question

1st April 2015 machinery purchased for 15000 and same machinery sold in 2019 for 8000. What would be the entires for both year?

Answer 1

1 april 2015 = machinery a/c........Dr 15000

To cash a/c 15000

1 April 2019 = cash a/c .......dr 8000

Loss on machine a/c ..Dr 7000

To machinery a/c 15000