1) Following balances are extracted from the trail balance of ABC Enterprises as at 1 January 2018. Machineries Rs. 1,000,000 Accumulated depreciation Rs. 400,000 Depreciation rate is 20% p.a Machinery which purchased on 1 January 2016, cost at Rs. 600,000, has been sold for 500,000 on 1st July 2018. Calculate the disposal profit and depreciation for the year ended 31 December 2018 with the relevant accounts