Question

On 1-1-2016. A purchased Roasting Machine for 60,000 and On 1-1-2017 he purchased one Oil Expeller for 3 1,00,000. On 1-1-2018 the Roasting Machine got out of order and a new Roaster was purchased costing 1,20,000 after surrendering the old one and paying cash 7 90,000. On 1-1-2020 the Oil Expeller purchased on 1-1-2017 was destroyed by fire and the insurance company paid 760,000 only. Show the Machinery Account ₹ from 2016-2019. Charge depreciation at 10% p.a. on the W.D.V. method. Rolanco 193 194 Loss on Exchange on the Roasting Machine 18,600 ; Loss on Oil​

Answer 1

purchase of oil expeller = 3100000

New roaster = 1,20,000

cash = 790000

Loss = 28600