On 1st April, 2010 Shri Ankur purchased an X-Ray machine for * 1,35,000. It is expected that machine will remain in use for 5 years and then scrap value will be 35,000. A Sinking Fund created to replace the machine by investing at 4% per annum. At the end of the fifth year investment was sold for 81,700. As per Sinking Fund table at 4% interest an amount equal to 0.18463 should be invested every year to receive one rupee after 5 years. Prepare Machinery A/c, Sinking Fund A/c and Sinking Fund Investment A/c. (Calculation should be made to the nearest rupee)

On 1st April, 2010 Shri Ankur purchased an X-Ray machine for * 1,35,00

1.	On 1st April, 2010 Shri Ankur purchased an X-Ray machine for * 1,35,000. It is expected that machine will remain in use for 5 years and then scrap value will be 35,000. A Sinking Fund created to replace the machine by investing at 4% per annum. At the end of the fifth year investment was sold for 81,700. As per Sinking Fund table at 4% interest an amount equal to 0.18463 should be invested every year to receive one rupee after 5 years. Prepare Machinery A/c, Sinking Fund A/c and Sinking Fund Investment A/c. (Calculation should be made to the nearest rupee)
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