24. Gurman & Co. purchased machinery for ₹ 40,000 on 1st October, 2021. Depreciation is provided @10% p.a. on the Diminishing Balance. On 31st January, 2024, one-fourth of the machinery was found unsuitable and disposed off for ₹ 5,600. On the same date, new machinery at a cost of ₹ 15,000 was purchased. Write up the Machinery Account for the years ended 31st March, 2022, 2023 and 2024. Accounts are closed on 31st March each year.
T.S.Grewal/2024 Edition/Practical Problems/Q-24
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.