Question

On 1.4.2019 the following balances appear in the books:

Machinery a/c 3 lac, provision for depreciation 60,000

On the same date , 1/3 of the machinery was sold for Rs 45000 and a new machinery was purchased for Rs 2,00,000. Prepare provision for depreciation a/c for 2019-20 if depreciation is charged at 15 % p.a. according to Straight line method.

Answer 1

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