Question

The following balances appear in the books of Y Ltd. :
Rs.
Machinery Alc as on 1-4-2014
8,00,000
Provision for Depreciation A/c as on 1-4-2014
3,10,000
On 1-7-2014, a machinery which was purchased on 1-4-2011 for Rs.1,20,000 was sold for
Rs.50,000 and on the same date another machinery was purchased for Rs.3,20,000.
The firm has been charging depreciation at 15% p.a. on Original Cost Method and closes its
books on 315 March every year. Prepare the Machinery A/c and Provision for Depreciation
A/c for the year ending 31st March, 2015
ate
18
Crom​

Answer 1

Answer:

50,000

Explanation:

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