Question

Q10
JEEVAN &Co has purchased two machines, one of 1/4/2016 for .1,90,000 and paid
-10,000 towards its installation charges and another on 30/09/2016 for 1,40,000.On
1/10/2018, the machinery which was purchased on 1/4/2016 was sold at a loss? -50,000
and on the same day another modern machinery purchased for? -3,00,000. Depreciation
is to be charged @ 10% on its original cost and books are closed on 31st March every
year.
You are required to prepare MACHINERY AC for the fist three years and show your
working clearly.
/
OR
Pass necessary journal entries for the first three years and show your working clearly in 8m
respect of calculation of depreciation and profit or loss on sale of machinery

Answer 1

Answer:

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