On 1st July,2017 Moon Ltd. purchased Machinery of Rs.4,00,000. Additional Machinery
was purchased on 1st January 2018 for Rs. 1,00,000. On 1st October 2018, half of the
Machinery purchased on 1 July 2018 was sold for Rs.1,28,000 through auction
(auctioneer commission paid Rs.8,000) On the same date another Machinery was
purchased for Rs.5,00,000. Depreciation is to be charged @10% p.a by straight line
method on 31st March every year. Prepare Machinery Account a two financial years.
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On 1st July,2017 Moon Ltd. purchased Machinery of Rs.4,00,000. Additional Machinery
was purchased on 1st January 2018 for Rs. 1,00,000. On 1st October 2018, half of the
Machinery purchased on 1 July 2018 was sold for Rs.1,28,000 through auction
(auctioneer commission paid Rs.8,000) On the same date another Machinery was
purchased for Rs.5,00,000. Depreciation is to be charged @10% p.a by straight line
method on 31st March every year. Prepare Machinery Account a two financial years.
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