Question

23. M/s. P & Q purchased machinery for * 40,000 on 1st October, 2018. Depreciation is provided
@10% p.a. on the Diminishing Balance. On 31st January, 2021, one-fourth of the machine
was found unsuitable and disposed off for 5,600. On the same date new machinery a
a cost of 15,000 was purchased. Write up the Machinery Account for the years ended
31st March, 2019, 2020 and 2021. Accounts are closed on 31st March each year.
[Loss on Sale of Machinery—2,237; Balance in Machinery Alc— 37,8351

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