Question

Q. 7. On 1st April
, 2015, Plant and Machinery was purchased for 21,20,000. New
machinery was purchased on 1st Oct., 2015, for 350,000 and on 1st July, 2016, for
825,000
On 1st January, 2018, a machinery of the original value of 320,000 which was
included in the machinery purchased on 1st April, 2015, was sold for 36,000. Prepare
Plant & Machinery A/c for three years after providing depreciation at 10% p.a. on
Straight Line Method. Accounts are closed on 31st March every year.
Ans. Loss on sale of machinery 8,500; Balance of Machinery A/c on 31st
March, 2018, 1,28,125.]​

Answer 1

Answer:

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