Question

On 1st April, 2012 Jai Hind Co. Ltd, purchased a machine for
were paid as erection charges. On 1st July, 2013 the company purchased another
machine for ₹ 20,000. On 1st July, 2014 the machine which was purchased on 1st
April, 2012 was sold for ₹ 10,000 and the company purchased another machine for
30,000 on the same day. Depreciation is to be charged by the company at the rate of
10% annually by Fixed Instalment Method. The accounts are closed on 31st Dec. each
year. Prepare the Machinery account from 2012 to 2016.
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Answer 1

Answer:

answer is given thorough a picture

Answer 2

Answer:

loss on sale of machine rupee 21000 Balance of machine account rupee 35500