Q5.Preparea ‘T’ shape account of machinery and record the following transactions:
Machinery purchased Rs.20,000.
Machinery sold costing Rs.5,000.
Machinery again purchased Rs.78,000.
Old machinery discarded Rs.2,500.
Depreciation on machinery Rs.2,000.
Answers
Answer:
machinery a/c
DR CR
--------------------------------------------------------------------------------------------------------------
particuler cash | particuler cash
to cash 20000 | by sale 5000
to cash 78000 | by sale 2500
to depreciation 2000 | by balance 92,500
100000 100000