Question

Question 3:
A Firm purchased an old Machinery for Rs. 37,000 on 1st January, 2015 and spent Rs. 3,000 on its
overhauling. On 1st July 2016, another machine was purchased for Rs.10,000. On 1st July 2017, the
machinery which was purchased on 1st January 2015, was sold for Rs. 28,000 and the same day a
new machinery costing Rs. 25,000 was purchased. On 1st July, 2018, the machine which was
purchased on 1st July, 2016 was sold for Rs. 2,000. Depreciation is charged @ 10% per annum on
straight line method. The firm changed the method and adopted diminishing balance method with
effect from 1st January, 2016 and the rate was increased to 15% per annum. The books are closed
on 31st December yearly. Prepare Machinery account for 4 years from 1st January, 2015. (8 Marks)​

Answer 1

Answer:

1. very good morning to you
2. very nice work

Step-by-step explanation:

Answered is a B