Question

Sunny Textiles Itd. which depreciates its machinery at 20% p.a. on diminishing
balance method, purchased a machine for Rs. 6,00,000 on 1" October, 2010. It
closes its books on 31" March every year. On 1" January, 2012 it purchased
another machine for Rs. 1,50,000. On 1" December, 2012 one-third of the
machinery purchased on 1" October, 2010 was sold for Rs. 80,000
You are required to prepare Machinery A/c and Provision for Depreciation A/c for
the relevant years.​

Answer 1

Answer:

Here your Answer

I hope it will help you!!

Answer 2

Answer:

:

108000+47500+=155500depreciation on 1st machine- 12000depreciation on 2nd machine- 5000depreciation on 3rd machine- 1875 (for 9 months)For 2012balance b/d- 96000+42500+23125=161625depreciation on 1st machine- 10000depreciation on 2nd machine- 5000depreciation on 3rd machine- 2500depreciation on machine sold-1667sale value- 6000book value on 1st april 2012- 16000:loss on sale- 8333.

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