Question

a firm purchase of machinery of rs 900000 on 1st December in the same accounting year additional machinary casting rs 450000 was purchase . on 1st july 2016 the machinary which was purchase on 1st April 2015 having become obsolete was sold off rs525000 on 1st September 2016 new machinery was purchased for rs 375000 while the machinery purchased on 1 December 2015 was sold for rs 97500 on the same day the firm provides depreciation on its machinery@10%p.a on dimnishing balance method on 31 march every year . prepare machinery account and depreciation account​

Answer 1

Answer:

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