Question

Q2. Bhavanoor Textiles Limited, for whom the
accounting year is the financial year, purchased
machinery on 1 st April 2009 costing Rs. 30,00,000
(excluding installation expenses of Rs. 5,00,000 and
transportation expenses of Rs. 1,00,000). It

purchased machinery on 1 st July, 2009 costing Rs.
10,00,000 (including 5% as installation expenses
and further machinery was purchased on 1 st
october, 2009 for Rs. 5,00,000.0n this date, one third
of the machinery purchased on 1 st April 2009 was
sold for Rs. 5,00,000. You are required to prepare the
machinery account for the year ended 31 st
December 2009. Show your workings clearly. ​

Answer 1

Answer:yes

Explanation:

1 April 3000000₹+500000₹+100000₹=3600000₹

1 July 1000000₹+50000₹=1050000₹

1 October 500000₹

1 October sold 1/3 machinery= 5,00,000

31 March 2010= 3600000+1050000+500000-500000= 4650000₹

THEN in the machinery account

Debit column:

1 April to cash 3600000₹

1 July to cash 1050000₹

1 October to cash 500000₹

Total 4700000₹

Credit column:

1 October by sale of machinery 500000₹

By balance c/d 4650000₹

Total 4700000₹