Question

ision for Depreciation Account
22. A firm purchased on 1st January, 1998 a machine for Rs. 1,00,000. On 1st July, 1999, it
purchased another machine for Rs. 62,500 and on 1st July, 2000 it sold of the first machine
purchased in 1998 for Rs. 28,750. Depreciation was provided on the machinery @ 10%
p.a. on the original cost.
Prepare machine account and provision for depreciation account for first four years.​

Answer 1

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