A boiler was purchased from abroad for ₹ 10,000. Shipping and forwarding charges ₹ 2,000, Import duty, ₹ 7,000 and expenses of installation amounted to ₹ 1,000
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Following balances appear in the books of Priyank Brothers:
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Following balances appear in the Book of Paras Bros
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On 1st July, 2019, OM Ltd. purchases second-hand machinery for ₹ 20,000 and spends ₹ 3,000 on reconditioning and installing it. On 1st January 2020, the firm purchases new machinery worth ₹ 12,000.
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On 1st April, 2010, Plant and Machinery was purchased for ₹ 1,20,000. New Machinery was purchased on 1st October, 2010 for ₹ 50,000 and on 1st July, 2011, for ₹ 25,000
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A company whose accounting year is a financial year, purchased on 1st July, 2020 machinery costing ₹ 30,000
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A Van was purchased on 1st April, 2020 for ₹ 60,000 and ₹ 5,000 was spent on its repair and registration. On 1st October, 2021 another Van was purchased for ₹ 70,000
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On 1st April, 2019, Gurman Toys purchased a machine for ₹ 2,40,000 and spent ₹ 10,000 on its erection. On 1st October, 2019, an additional machinery costing ₹ 1,00,000 was purchased
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On 1st April, 2019, Star Trading purchased 5 Machines for ₹ 60,000 each. On 1st April, 2021, one of the machine was sold at a loss of ₹ 8,000
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From the following transactions of a concern, prepare the Machinery Account for the year ended 31st March, 2023:
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