Question

On 1st January, 2017 Rajan & Sajan Ltd. purchased a machine for 80,000 and spent 20,000
on its cartage and installation. The residual value at the end of its expected useful life of 4
years is estimated at * 40,000. On 30th Sept., 2018, this machine was sold for * 50,000.
Depreciation is to be provided according to Straight Line Method.
Required : Prepare Machinery Account for the three years assuming that the accounts are
closed on 31st March each year.​

Answer 1

Answer:

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