Depreciation and reserves
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7. M/s Assam Fabrics purchased a Textile Machine on April 01, 2013 for $30,000. On July
01, 2014 another machine costing 325,000 was purchased. The machine purchased on April
01, 2013 was sold for 325,000 on October 01, 2015. The company charges depreciation
15% p.a. on straight line method. Prepare Machinery Account up to March 31, 2016. The
firm closes its books on 31st March every year.
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what is it I don't know hmmm
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