Question

Insys Ltd purchased machinery on 1 August 2018 for 60.000 Om October, 2019 purchased another machine for 20.000 On 30 June 2020. soll the first machine for 36.500 and on the same d purchased machinery for 50,000 Depreciation is provided @20% cost each year, Accounts are closed each year on 31 March
show machinary account of three years​

Answer 1

Answer:

ANSWER:

Machinery Account

Dr.

Cr.

Date Particulars Amount (Rs) Date Particulars Amount (Rs)

2007 2008

Apr. 01 Bank A/c (1,90,000 + 10,000) 2,00,000 Mar. 31 Depreciation A/c 25,000

Mar. 31 Balance c/d 1,75,000

2,00,000 2,00,000

2008 2009

Apr. 01 Balance b/d 1,75,000 Mar. 31 Depreciation A/c 25,000

Mar. 31 Balance c/d 1,50,000

1,75,000 1,75,000

2009 2010

Apr. 01 Balance b/d 1,50,000 Mar. 31 Depreciation A/c 25,000

Mar. 31 Balance c/d 1,25,000

1,50,000 1,50,000

2010 2011

Apr. 01 Balance b/d 1,25,000 Mar. 31 Depreciation A/c 25,000

Mar. 31 Balance c/d 1,00,000

1,25,000