Sharma & Co. whose books are closed on 31st March, purchased machinery for ₹ 1,50,000 on 1st April, 2020, additional machinery was acquired for ₹ 50,000 on 1st October, 2020
Sharma & Co. whose books are closed on 31st March, purchased machinery for ₹ 1,50,000 on 1st April, 2020, additional machinery was acquired for ₹ 50,000 on 1st October, 2020. Certain machinery which was purchased for ₹ 50,000 on 1st October, 2020 was sold for ₹ 40,000 on 30th Septemeber, 2019.
Prepare Machinery Account and Accumulated Depreciation Account for all the years up to the year ended 31st March, 2023. Depreciation is charged @ 10% p.a. on cost following straight Line Method. Also show the Machinery Disposal Account.
Anurag Pathak Changed status to publish October 25, 2023
