Astha Engineering Works purchased a machine on 1st July, 2019 for ₹ 1,80,000 and spent ₹ 20,000 on its installation.
On 1st April, 2020, it purchased another machine for ₹ 2,40,000. On 1st October, 2021, the machine purchased on 1st July, 2019 was sold for ₹ 1,45,000. On 1st January, 2022, another machine was purchased for ₹ 4,00,000. Prepare Machinery Account for three years after charging depreciation @ 10% p.a. by Diminishing Balance Method. Accounts are closed on 31st March every year.