The following Balances appear in the books of Gopichand and sons Machinery account as on 1.1.2014 800000 Provision for depreciation as on 1.1.2014 318000 On 1.1.2014 they decided to sell a machine for 34500. This machine was purchase for 120000 on 1.1.2010. Show the machinery account and provision for depreciation account for the year 2014 assuming the firm has been charging depreciation at 10% per annum on the written down value method and accounts are closed on 31st December every year.
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