Question

machine account shows balance of rupees 60,000 in the book of Bitul and company on 1-4- 2014 company provide depreciation at 10% every year under reducing balance method. This machine was sold at 25% loss on book value on 1-10 -14.
From the above information pass necessary journal entries and prepare machine account to the books of company​

Answer 1

Answer:

machine account shows balance of rupees 60,000 in the book of Bitul and company on 1-4- 2014 company provide depreciation at 10% every year under reducing balance method. This machine was sold at 25% loss on book value on 1-10 -14. From the above information pass necessary journal entries and prepare machine account to the books of company