Question

Loss on Oil Expeller 21,000 ;
PROVISION FOR DEPRECIATION
15. Following balance appear in the books of Vritti Traders as on 1st April, 2015.
Machinery Account 5,00,000.
Provision for Depreciation 1,00,000.
On 1st April, 2015, they decided to sell machine for 25,000. This machine was
purchased for 40,000 on 1st April, 2012. Prepare the Machinery Account, Provision for
Depreciation Account and Machinery Disposal Account for the year 2015-2016.
Assuming the firm has been charging the Depreciation @ 10% p.a. on fixed installment
method.
(Ans. Machinery Account Balance an on 1.4.16 4,60,000, Provision for
Depreciation Account Balance as on 1.4.16 * 1,34,000)​

Answer 1

Answer:

good noon buddy

have a nice weekend