15. The following balances appeared in the books of Priyank Ltd. as on lst April, 2023:
Machinery A/c ₹ 10,00,000
Provision for Depreciation A/c ₹ 4,50,000
Depreciation is provided at 10% per annum on the orig1nal cost on 31st March every year.
On 1st October, 2023, a machine which was purchased on 1st December, 2020 for ₹ 1,20 000 was sold for ₹ 34,000.
Prepare Machinery Account and Provision for Depreciation Account for the year 2023-24
T.S.Grewal/2024 Edition/Practical Problems/Q-15
For full question, please refer to the text book T.S.Grewal’s Double Entry Book Keeping-Financial Accounting, Textbook for CBSE Class XI published by Sultan Chand & Sons Pvt. Ltd.