Sejal Ltd. has a balance of ` 40,500 on 1st April, 2019 in its machinery account. 10% p. a. depreciation was charged by diminishing balance method. On 1st October, 2019 the company sold a machine as it is useless for ` 8,750 which was purchased on 1st April, 2017 for ` 12,500. On the same date the company purchased a new machine for ` 25,000. On 31st March, 2020 the directors of the company decided to adopt the fixed method of depreciation instead of diminishing method from 1st April, 2017. Open Machinery Account in the books of company for 2019-20.
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Machinery include the machines
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Machinery includes machines
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