on 1st april 2005, z ltd purchased a machine for 120000 and on 30th september, 2006 it aquired additional machinery for 20000. on 30.06.2007 one of the original machine, purchase on 1st april 2005 that costed 5000/- ws sold for 500. on the same date a new a machine for 8000. depreciation-15% p.a. prepare machiney account for 3 years.

Machinery Account

Dr.

Cr.

Date

Particulars

Amount

(Rs)

Date

Particulars

Amount

(Rs)

2005

2006

 apr. 1

Bank A/c (M1)

1,20,000

Mar. 31

Depreciation A/c (M1)

18,000

Mar. 31

Balance c/d

1,02,000

1,20,000

1,20,000

2006

2007

apr. 01

Balance b/d

1,02,000

Mar. 31

Depreciation A/c

sep. 30

Bank A/c (M2)

20,000

M1

18,000

M2 (for 6 months)

1500

19,500

Mar. 31

Balance c/d

M1

84,000

M2

18,500

1,02,500

1,22,000

1,22,000

2007

2007

Apr. 01

Balance b/d

Jun. 30

Depreciation A/c (on M1 for 3 months on 3,500 )

131.25

M1

84,000

Jun. 30

Bank A/c (Sale of M1)

500

M2                            

18,500

1,02,500

Jun. 30

Profit and Loss A/c (Loss on Sale)

2868.75

Jun. 30

Bank A/c (M3)

8,000

Mar. 31

Depreciation on-

 M1                              12,075                                     

M2

3,000

M3

900

15975

Mar. 31

Balance c/d

 M1                             68425  

 M2                                                                                                       

15500

M3

7100

91025

1,10,500

1,10,500