Ultra ltd purachased a machinery on 1st july 2015, for 20,000 . On 31st oct 2016 it sells 1/4th of the above machinery for 3,950 the company charges depriciation @10%p.a on straight line method . The company closes its books on 31st march every year prepare machinery account for two years.
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machinery a/c
particular AMT. particular. Amt
To bank. 20000. by bank. 3950
by dep. 2667
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