A company purchased a machinery for ₹80,000 on 1st April, 2010 and decided to write off 


A company purchased a machinery for ₹80,000 on 1st April, 2010 and decided to write off  at 10% annually on the Diminishing Balance Method. On 1st July, 2012 a part of the machinery valued in the books of the firm at ₹16,000 on 1st April, 2010 was sold for ₹10,000. 
Show the Machinery Account in the books of the company for the years 2010, 2011 and 2012. Accounts are closed each year on 31st December.​


Leave a Reply

Your email address will not be published. Required fields are marked *