21. Rajesh purchased on 1st April, 2022, a machine for ₹ 6,000. On 1st October, 2022, he purchased another machine for ₹ 5,000. On 1st October, 2023. he sold the machine purchased on 1st April, 2022 for ₹ 4,000.
Depreciation is to be provided @ 10% p.a. according to Diminishing Balance Method.
Assuming the accounts were closed on 31st March every year, prepare Machinery Account for the years ended 31st March, 2023 and 2024.
T.S.Grewal/2024 Edition/Practical Problems/Q-21
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.