Question

A company whose accounting year is a calender year, purchased on 1st April 2013 machinery
costing Rs. 30000. It purchased further machinery on 1st October 2013, costing Rs. 2000.
January 2015 one- third of the machinery installed on 1st April 2013 became obsolete
and was sold for Rs. 3000 Depreciation is being written off at 10% p.a. on fixed installment
system Prepare machinery account as would appear in the Ledger of the company for three
years.​

Answer 1

Explanation:

loss on sale 8250-3000 ₹ 5250