4. Mohan & Co. purchased machinery for ₹ 21,000 on 1st April, 2021. The estimated useful life of the machinery is 10 years, after which its realisable value will be ₹ 1,000. Determine the amount of annual depreciation according to the Straight-Line Method and prepare Machinery Account for the first three years. The books of account are closed on 31st March every year.
T.S.Grewal/2024 Edition/Practical Problems/Q-04
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.