28. Ashoka & Co. whose books are closed on 31st March, purchased a machinery for ₹ 1,50,000 on 1st April, 2021. Additional machinery was acquired for ₹ 50,000 on 1st October, 2021.
Certain machinery which was purchased for ₹ 50,000 on 1st October, 2021 was sold for ₹ 40,000 on 30th September, 2023.
Prepare the Machinery Account and Accumulated Depreciation Account for all the years up to the year ended 31st March, 2024. Depreciation is charged @ 10% p.a. on Straight Line Method. Also, show the Machinery Disposal Account.
T.S.Grewal/2024 Edition/Practical Problems/Q-28
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.