Mohan Ltd. bought machinery for ` 1,00,000 on 1st April 2011. Depreciation wasprovided at the rate of 10% per annum on reducing balance method. On 30thSeptember 2012, one fifth of the machinery was damaged due to accident and couldfetch only ` 5,000. It was decided to replace the damaged part of machinery at acost of ` 30,000 on 1st October 2012. Prepare machinery account from 1st April,2011 to 31st March 2013 assuming accounts are closed on 31stMarch each year.
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1/4/2011 To bank A/C 100000 31/3/2012 by depression 100000
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