Depreciation

On 1st April, 2019, Star Trading purchased 5 machines for 60,000 each. On 1st April, 2021. ne of the machine was sold at a loss of 8,000. On 1st July, 2022, second machine was sold at a loss of 12,500. A new machine was purchased for ₹ 1,00,000 on 1st October, 2022. Prepare Machinery Account for 4 years, assuming accounts are closed on 31st March each year and depreciation is charged @ 10% per annum as per Straight Line Method. Depreciation: 2019-20-₹30,000; 2020-21-₹ 30,000; 2021-22-24,000; 2022-23-24,500; Sale Proceeds from 1st Machinery 40,000; Sale Proceeds from 2nd Machinery- 28,000. Balance of Machinery A/c as on Ist April, 2023 2,03,000.)