Rohit Traders purchased machinery for Rs.60,000/- on 1st April 2016. The firm purchased another machinery for Rs.20,000/- on 1st October 2017. It sold the first machinery (purchased on 1st April 2016) for Rs.40,000/- on 30th Sept. 2018. The depreciation is charged @ 10% p.a. on straight line method. Prepare machinery account assuming that the books are closed on 31st March every year.
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integrationRohit Traders purchased machinery for Rs.60,000/- on 1st April 2016. The firm purchased another machinery for Rs.20,000/- on 1st October 2017. It sold the first machinery (purchased on 1st April 2016) for Rs.40,000/- on 30th Sept. 2018. The depreciation is charged @ 10% p.a. on straight line method. Prepare machinery account assuming that the books are closed on 31st March every year.
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