Question

29. Rahul Ltd., purchased a machinery for 3,25,000 on October 1, 2003. A part of the
machinery purchased for 32,500 on October 1, 2003 became useless so was sold for
27.500 on June, 2005.
You are required to prepare Machinery Account for the first four years if companycharges
depreciation @10% pa, on Written down value basis and closes its books of accounts
on March 31, each year.
(Ans. Balance of Machinery Account = 72.25,078.50
in Loss on Sale = 719593 ​

Answer 1

Answer:

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