1.

Following balances appear in the books of M/s. Amrit as on 1st April, 2017: ₹ 2017 1st April Machinery A/c 60,000 Provision for Depreciation A/c 36,000 On 1st April, 2017, they decided to dispose off a machinery for ₹ 8,400 which was purchased on 1st April, 2013 for ₹ 16,000.You are required to prepare the Machinery A/c, Provision for Depreciation A/c and Machinery Disposal A/c for the year ended 31st March, 2018. Depreciation was charged at 10% on Cost following SLM.

Answer» Following balances appear in the books of M/s. Amrit as on 1st April, 2017:

























₹
2017
1st April Machinery A/c 60,000
Provision for Depreciation A/c 36,000



On 1st April, 2017, they decided to dispose off a machinery for ₹ 8,400 which was purchased on 1st April, 2013 for ₹ 16,000.

You are required to prepare the Machinery A/c, Provision for Depreciation A/c and Machinery Disposal A/c for the year ended 31st March, 2018. Depreciation was charged at 10% on Cost following SLM.


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