From the following transactions of a concern, prepare the Machinery Account for the year ended 31st March, 2023:

From the following transactions of a concern, prepare the Machinery Account for the year ended 31st March, 2023:

1st April, 2022	Purchased a second-hand machinery for ₹ 40,000.
1st April, 2022	Spent ₹ 10,000 on repairs for making it serviceabale.
30th September, 2022	Purchased additional new machinery for ₹ 20,000.
31st Decemeber, 2022	Repairs and renewal of machinery ₹ 3,000.
31st March, 2023	Depreciate the machinery at 10% p.a.

[Balance of Machinery A/c on 1st April, 2023 – ₹ 64,000.] [Hint: The amount spent on repairs and renewal of machinery ₹ 3,000 on 31st December, 2022 is of revenue nature and not of capital nature and hence, not debited to the Machinery Account.]