On 1st jab., 2013 a limited company purchase a machinery for ₹ 46,000 and ₹ 4,000 were paid on its establishment charge. On 1st july 2014, the company purchased another machine for ₹25,000. On 1st October, 2015 the company sold the machine purchased on 1st jan 2013 for ₹20,000. Depreciation is provided by fixed installment method @ 10% per annum prepare machinery account from 2013 to 2015 the books of account are closed on 31st December every year
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loss on sale of machine rupee 16250 Balance of machine account at the end of 2015 rupee21250
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