,10 Balance of Machinery Alc on Ist April, 2018 2,67,500.] the following transactions of a concern, prepare the Machinery Account for the year ended 31st March, 2018: 1st April, 2017 : Purchased a second-hand machinery for 40,000. : Spent 10,000 on repairs for making it serviceable. 30th September, 2017 : Purchased additional new machinery for 20,000. 31st December, 2017: Repairs and renewals of machinery 3,000. 31st March, 2018 : Depreciate the machinery at 10% pa [Balance of Machinery A/c on 1st April, 2018- 64,000] Hint: The amount spent on repairs and renewals of machinery?3,000 on 31st December, 2017 is of revenue nature and not of capital nature and hence not debited to the Machinery Account.]