II. M/s Blue Channel purchased a second hand machinery on 1st January, 2015 for INR 1,60,000. Overhauling and erection charges amounted to INR 40,000. Another Machinery was purchased for INR 80,000 on 1" July, 2015 On 1" July 2017, the machine installed on 15 January 2015 was sold for INR 1,00,000. Another machine amounted to INR 30,000 was purchased and was installed on 30th September, 2017 Under the existing practice the company provides depreciation @10% per annum on original cost. However, from the year 2018 it decided to adopt WDV method and to change depreciation 15% p.a. You are required to prepare Machinery Account for the year 2015 to 2018. [4]