Question

6. The cost of the machine in use with Bapu & Co. as on 1t January, 2008 was 3, 00,000 against which the depreciation provision stood at 1, 00,000. The Co.
provided depreciation @10% on the diminishing balance method. On 1t July, 2008, a machine costing 40,000 as on 1tt January, 2006 was sold for 30,000 and on the same date another machine costing 50,000 was purchased. Show machinery account as well as provision for depreciation account for 2008.
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Answer 1

Answer:

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