Babu purchased on 1st April, 2021, a machine for ₹ 6,000. On 1st October, 2021, he also purchased another machine for ₹ 5,000
Babu purchased on 1st April, 2021, a machine for ₹ 6,000. On 1st October, 2021, he also purchased another machine for ₹ 5,000. On 1st October, 2022, he sold the machine purchased on 1st April, 2021 for ₹ 4,000.
Depreciation is charged @ 10% p.a. following Diminishing Balance Method.
The accounts were closed on 31st March every year, prepare Machinery Account for the years ended 31st March, 2022 and 2023.
Anurag Pathak Changed status to publish October 24, 2023
