3. Machinery Account in the books of a concern was shown as follows:
Balance as at 1-1-2017 : 7,450
Purchase of machinery on 1-7-2017: 2,200
Sale of Machinery on 1-10-2017 : * 1,000
Original cost of machinery sold was 3,000 on 1-7-2014.
Machinery is being depreciated at 10% p.a. on diminishing balance of the asset.
Show the machinery account in the books of the concern for the year, 2017. The books are closed on 31
December, each year.
[B.Com.]
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sorry I didn't know......
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