Please answer fast very urgent and please solve it with working notes how the machine sold with explanation - Accountancy -

Question

Please answer fast very urgent and please solve it with working
notes how the machine sold with explanation

Shruti Mishra · Accepted Answer

Dear Student

Machinery
A/c

Dr

Date
Particulars
Amount
Date
Particulars
Amount

(Rs)

2016

2017

1-Apr
Bank A/c
2,00,000
31-Mar
Depreciation A/c
20,000

(2,00,000 x 10%)

31-Mar
Balance c/d
1,80,000

2,00,000

2017

2018

1-Apr
Bal b/d
1,80,000
31-Mar
Depreciation A/c
20,000

(2,00,000 x 10%)

31-Mar
Balance c/d
1,60,000

1,80,000

2018

2019

1-Apr
Bal b/d
1,60,000
1-Oct
Depreciation A/c
10,000

(2,00,000 x 10%) x 6/12

1-Oct
Bank A/c
1,20,000

1-Oct
Loss on Sale(Balancing figure)
30,000

1,60,000

Regards

Machinery A/c
Dr.
Date	Particulars	Amount	Date	Particulars	Amount
		(Rs)			(Rs)
2016			2017
1-Apr	Bank A/c	2,00,000	31-Mar	Depreciation A/c	20,000
				(2,00,000 x 10%)
			31-Mar	Balance c/d	1,80,000


		2,00,000			2,00,000

2017			2018
1-Apr	Bal b/d	1,80,000	31-Mar	Depreciation A/c	20,000
				(2,00,000 x 10%)
			31-Mar	Balance c/d	1,60,000


		1,80,000			1,80,000


2018			2019
1-Apr	Bal b/d	1,60,000	1-Oct	Depreciation A/c	10,000
				(2,00,000 x 10%) x 6/12
			1-Oct	Bank A/c	1,20,000
			1-Oct	Loss on Sale(Balancing figure)	30,000

		1,60,000			1,60,000