Question

20. Machine account shows balance of Rs.60,000 in the books of XYZ Ltd on 01/04/17. This machine was
purchased five years back. Till today, total depreciation written off on this machine was Rs.20,000.
On 01/04/19 second machine was purchased for Rs. 12,000.
Second machine was not found suitable and was sold at 10% loss of book value on 31/12/19. Every year
company provides depreciation at 5% under S.L.M.
Prepare machine a/c and depreciation a/c in the books of the company up to 31/03/20.​

Answer 1

Answer:

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