Machinery Account | ||||||
Dr. | Cr. | |||||
Date | Particulars | Amount (Rs) | Date | Particulars | Amount (Rs) | |
2005 | 2006 | |||||
July 01 | Bank A/c (5,70,000 + 30,000) | 6,00,000 | Mar. 31 | Balance c/d | 6,00,000 | |
6,00,000 | 6,00,000 | |||||
2006 | 2007 | |||||
Apr. 01 | Balance b/d | 6,00,000 | Mar. 31 | Balance c/d | 6,00,000 | |
6,00,000 | 6,00,000 | |||||
2007 | 2008 | |||||
Apr. 01 | Balance b/d | 6,00,000 | Jan. 31 | Provision for Depreciation A/c | 3,10,000 | |
Bank A/c (Sale) | 1,60,000 | |||||
Profit and Loss A/c (Loss on Sale) | 1,30,000 | |||||
6,00,000 | 6,00,000 | |||||
Provision for Depreciation Account | ||||||
Dr. | Cr. | |||||
Date | Particulars | Amount (Rs) |
Date | Particulars | Amount (Rs) | |
2006 | 2006 | |||||
Mar. 31 | Balance c/d | 90,000 | Mar. 31 | Depreciation A/c (for 9 months) | 90,000 | |
90,000 | 90,000 | |||||
2007 | 2006 | |||||
Mar. 31 | Balance c/d | 2,10,000 | Apr. 01 | Balance b/d | 90,000 | |
2007 | ||||||
Mar. 31 | Depreciation A/c | 1,20,000 | ||||
2,10,000 | 2,10,000 | |||||
2008 | 2007 | |||||
Jan. 31 | Machinery A/c | 3,10,000 | Apr. 01 | Balance b/d | 2,10,000 | |
2008 | ||||||
Jan. 31 | Depreciation A/c (for 10 months) | 1,00,000 | ||||
3,10,000 | 3,10,000 | |||||
Particulars | Amount |
Value of Machinery on July 01, 2005 | 6,00,000 |
Less: Depreciation for 9 Months
|
90,000 |
Value of Machinery on Apr. 01, 2006 | 5,10,000 |
Less: Depreciation
|
1,20,000 |
Value of Machinery on Apr. 01, 2007 | 3,90,000 |
Less: Depreciation for 10 Months
|
1,00,000 |
Value of Machinery on Jan. 31, 2008 | 2,90,000 |
Less: Sale Value
|
1,60,000 |
Loss on Sale | 1,30,000 |