You are given the following balances as on April 1, 2005:
Machinery A/C Rs.5,00,000
Provision for Depreciation A/C Rs.1,16,000
Depreciation is charged on Machinery at 20% p.a. by the straight line method. A piece of
machinery purchased on 1st April, 2003, for Rs.1,00,000 was sold on October 1, 2005 for
Rs.60,000. Prepare Machinery Account and Provision for Depreciation Account foe the year
ended 31st March, 2006
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WHOEVER CUTS TREES HAS NO RIGHT TO LIVE
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