5. Ganga Ltd. purchased a machinery on January 01, 2014 for ₹5,50,000 and spent ₹50,000 on its installation. On September 01, 2014 it purchased another machine for ₹3,70,000. On May 01, 2015 it purchased another machine for ₹8,40,000 (including installation expenses).

Depreciation was provided on machinery @10% p.a. on original cost method

annually on December 31. Prepare:

1. Machinery account and depreciation account for the years 2014, 2015, 2016 and 2017.
2. If depreciation is accumulated in provision for Depreciation account then prepare machine account and provision for depreciation account for the years 2014, 2015, 2016 and 2017.