A company purchased a machinery for Rs 50,000 on 1st October, 2016. Anoth
Channel: Doubtnut
Date: 2020-03-29

A company purchased a machinery for Rs 50,000 on 1st October, 2016. Another machinery costing Rs 10,000 was purchased on 1st December, 2017. On 31st March, 2019, the machinery purchased in 2016 was sold at a loss of Rs 5,000. The company charges depereciation `\"@ \"15%` p.a. on Diminishing Balance Method. Accounts are closed on 31st March every year. Prepare the Machinery Account for 3 years.