S & Co. purchased a machine for Rs.1,00,000 on 1.1.2011. Another machine costing ` 1,50,000 was purchased on 1.7.2012. On 31.12.2013, the machine purchased on 1.1.2011 was sold for ` 50,000. The company provides depreciation at 15% on Straight Line Method. The company closes its accounts on 31st December every year Estimate Deprecation amount & Profit & Loss a/c & provision for Depreciation A/c Q4. Rayalaseema Granite Company bought a granite quarry for Rs.6,000,000. The quarry was estimated to contain Rs.1,000,000 tonnes of granite. It incurred an expenditure of Rs.1,000,000 in developing the quarry site. The company extracted and sold 300,000 tonnes of granite in the first year. Required 1. Prepare a journal entry to record the depletion expense for