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Q.No.4 Max Marks 04 Uni-Pakistan traded in an old machine for a new one. The old machine had cost Rs. 27,000 and accumulated depreciation amourted
Q.No.4 Max Marks 04 Uni-Pakistan traded in an old machine for a new one. The old machine had cost Rs. 27,000 and accumulated depreciation amourted to Rs. 19,000. The list price of the new machine was Rs. 38,000. Uni-Pakistan received a Rs. 12,000 trade-in allowance for the old machine and paid the Rs. 26,000 balance in cash. Required: Pass a compound joumal entry to record above transaction Note: Entry without computation will not be accepted
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