Q No 4 Calculate Depreciation of an Asset.' + 1,400,000 Beginning retained earnings- On 1st July, 2008 a company purchased a machine for 3,90,000 and spen 10,000 on its installation. It decided to provide depreciation @ 15% per annum using written down value method. On 30th November, 2011 the machine was dismantled at a cost of 5,000 and then sold for \ 1,00,000.- On 1st December, 2011 the company acquired and put into operation a new machine at a total cost of 7,60,000. Depreciation was provided on the new machine on the same basis as had been used in the case of the earlier machine The company closes its books of account every year on 31st March