Question: On Ist Jan. 1997, Y Ltd, purchased a machinery for Rs. 15,00,000. On Ist July 1999, a part of the machinery purchased on Ist Jan.1997 for Rs. 70,000 was sold for Rs. 55,000 and a new machinery at a cost of Rs. 1.58,000 was purchased and installed on the same date. The company has adopted the method of providing 10%p.a. depreciation on the original cost of the machinery Required: Show the necessary leader accounts assuming that (a) Provision for Depreciation Account is not maintained. (b) Provision for Depreciation Account is maintained