Muskan Traders purchased four machines of ₹ 25,000 each on 1st July, 2019. On 30th September, 2020, the firm sold one of the machine purchased on 1st July, 2019 at a lost of ₹ 2,500. The firm sold another machine on 31st December, 2021 and a profit of ₹ 3,750. A new machine was purchased on 30th September, 2022 for ₹ 31,250. Prepare Machinery Account for 4 years, if books of account are closed on 31st March each year and depreciation is charged @ 10% p.a. as per Straight Line Method.

Anurag Pathak Changed status to publish October 24, 2023