Samarth manufacturing co.ltd aurangabad purchased a new machinery for 45000 on 1st jan 2015 and immeditaely dpent 5000 on its fixation and erecyion in the same year 1st juyl aaditional machinery costing 25000was purchased.on1st juyl 2016 the machinery purchased on 1st jan 2015 became obsolete and was sold for 40000 depreciation was provided for annully on 31st march at the rate of 10%per annum on fixed instalmethod. you are required to prepare machinery aacount for the year 2014-15 2015-16 2016-17
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Explanation:
cost price 50000 _1250 = 38750
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