26. Bharat Stores purchased on 1st July, 2020 machinery costing ₹ 30,000. It further purchased machinery on 1st January, 2021 costing ₹ 20,000 and on 1st 0ctober, 2021 costing ₹ 10,000.
On 1st April, 2022, one-third of the machinery installed on 1st July, 2020 became obsolete and was sold for ₹ 3,000. The company follows financial year as accounting year.
Show how the Machinery Account would appear in the books of company if depreciation is charged @ 10% p.a. on Written Down Value Method.
T.S.Grewal/2024 Edition/Practical Problems/Q-26
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.