(A) The following balances appear in the books of 2 Ltd. As on 1 April 2017:
10,00,000 Machinery Account
4,50,000 Provision for Depreciation Account
The machinery was depreciated at 10% p.a. on the Original Cost Method the accounting year
being April-March.
On 1" October 2017, a machinery which was purchased on 1" July 2013 for 3,00,000 was sold
for ? 1,20,000 and on the same date a fresh machinery was purchased for 4,00,000. Prepare the Machinery Account and Provision for Depreciation Account for the year 2017-2018.
plss help its very important
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closing balance of accounts as on 31-march-2018
- machinery a/c dr. 1100000
- provision for depreciation cr. 247500
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