12) ABC Enterprises purchased a machine on 1st April 2015. Following costs were incurred on the same. Total purchase cost Rs. 1,000,000 Useful life of the asset 3 years Scrap value 100,000 You are required calculated depreciation on following methods for the year ended 31 March 2016, 2017, and 2018. Straight line basis Reducing balance basis Prepare relevant ledger accounts and abstract of financial statements