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please solve it urgently On 1st April, 2004, a company purchased a machinery for Rs, 10,000. It spent Rs. 2,000 on its installation. On 1st
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On 1st April, 2004, a company purchased a machinery for Rs, 10,000. It spent Rs. 2,000 on its installation. On 1st October, 2004 , it purchased another machinery for Rs. 4,000. On 1st April, 2006, the machinery purchased on 1st April, 2004 was sold for Rs. 4,600. The company writes-off depreciation at 10% p.a on diminishing balance method. Accounts are closed on 31st March every year. Prepare machinery account for three years. 10 Moto Ltd. purchased on 1st April, 2018 a plant for 80,000. On 1st July, 2019 it purchased additional plant costing 48,000. On 1 st December, 2020, the plant purchased on 1st April, 2018 was sold off for 42,000 and on the same date fresh plant was purchased at the cost of 75,000. Depreciation is provided at 10% per annum on the Diminishing Balance Method every year. Accounts are closed each year on 31 st March. Show the Plant Account for 3 years. 10Step by Step Solution
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