On 1st April 2012 a Limited Company purchased machinery for Rs 2000000
Depreciation is provided @15% pa On diminishing balance method On 1-4
June, 2014, one fourth of machinery was damaged by fire and Rs.40000 were
received from the Insurance Company in full settlement. On 1'December, 2014,
another machinery was purchased by the Company for Rs. 1500000.
Write up the machinery account from 2014-15 to 2015-16. Books are closed on
315 march every year.
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