Question

& On 1st April 2015 Suman Traders purchased Machinery for P 30,000, On 1st Oct,2015,they
purchased further Machinery costing 20,000.
On 1st Oct 2016 they sold the Machine purchased on 1st April 2015 for 18,000 and brought
another Machine for 15,000 on the same date,
Depreciation is provided on Machinery @20% pa, on the Diminishing Balance Method and
financial year closes on 31st March every year.
Prepare the Machinery Account and Depreciation Account for the year 2015-16, 2016-17
and 2017-18​

Answer 1

Answer:

see the attachment