On 1st April, 2018, Rupa & Co. Purchased a machinery for ₹ 3,00,000 and incurred ₹ 21,000 as freight and insurance, ₹ 3,000 as carriage inwards and ₹ 6,000 as installation charges. It has estimated that the machinery will have a scrap value of ₹ 30,000 at the end of the estimated useful life of four years.

Prepare Machinery Account for the first four financial years ended 31st March according to the Straight Line Method.

Anurag Pathak Changed status to publish October 24, 2023