DI DI DI a. Where ne provision for depreciation account is maintained: WDy of the amount told wil be transferred to "Attoh Diaporal Account the entities will be as follows: 0 WOV of asset has been transtened to Asset Disposal Ale Asset Disposal Ale Dr. To Asset Alc In case of Sale at an Asset Caillark Mc To Aunt Disposal (H) For depreciation (if any) Depreciation P&LACI To Aunt Disposal Ne (1) In case of Profit on Sale of Asset Asset Diaspoti Alc To Proll Low Ne (M) In case of Lost on sale of Asset Profillon Ale To Anel Duposal NC b. Alternative Approach in this situations, all adjustment care to be prepared through the user account. The entries are as follows: In case of Assets sold Cash/Bank Ale To Assets Alc (10) In case of Depreciation Depreciation Profit & Los Ale To Assets Alc (H) In case of Profit an Sale Assels Ale To Profit & Los (iv) In case of Loss on Sale Profit & Loss Alc To Assets Alc 40 FUNDAMENTALS OF ACCOUNTING12.15 DE Accounting for Depreciation Illustration 10 On April 2011 Som lid purchased a machine for 6.000 and spent 5.000 on shipping and forwarding charges. 17.000 Gs import duty. 1.000 for coming and installion1500 brokerage and t500 for an fron pad. It wan estimated that the machine will have a value of 5.000 at the end of the useful life which in 15 years on 19 January 2012 repair and new 3.000 wote come out on October 2013 the machine was sold for 50.000. Prepare Machinery Account for the 3 yeon