Question

On 1st April 2015, Suman Traders Purchased Machinery for Rs. 30,000. On 1st Oct,

2015, they purchased further Machinery costing Rs. 20,000.

On 1st Oct 2016, they sold the Machine purchased on 1st April 2015 for Rs. 18,000

and brought another Machine for Rs. 15,000 on the same date.

Depreciation is provided on Machinery @ 20% p.a. on the Diminishing Balance

Method and financial year closes on 31st March every year.

Prepare the Machinery Account and Depreciation Account for the year 2015 – 16,

2016 – 17 and 2017 – 18.​

Answer 1

Explanation:

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