Question

HUS. DUUN
1 TUTVU
(VI) Opening of Asset Disposal Account
a
Disposal Account
[Ans. Loss on Sale of Machine * 25,680]
31. On 1st July, 2013, X Ltd. purchased a machinery for * 6,00,000. On 28th Feb.
2015, a part of the machinery purchased on 1st July, 2013 for * 80,000 was sold
Depreciation is provided at 20% per annum on the written down value method
and the books are closed on 31st Dec. each year. You are required to prepare :
(a) Machinery Account, (b) Provision for Depreciation Account, and (c) Machinery​

Answer 1

Explanation:

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