[DK Goel] Q. 25 Depreciation Solutions Class 11 CBSE (2025-26)
Solutions of Question number 25 of Depreciation chapter DK Goel class 11 CBSE (2025-26)
A company purchased second-hand machinery on 1st May, 2019 for ₹ 5,85,000 and immediately spent ₹ 15,000 on its erection. On 1st October, 2020, it purchased another machine for ₹ 4,00,000. On 31st July, 2021, it sold off the first machine for ₹ 2,50,000 and bought another for ₹ 4,20,000. On 1st November, 2022, the second machine was also sold off for ₹ 3,00,000. Depreciation was provided on the machinery @ 15% p.a. on Equal Instalment Method.
Show the Machinery Account, Depreciation Account and Provision for Depreciation Account assuming that the books are closed on 31st March every year.
[Ans. Balance of Machinery A/c on 31st March, 2023 ₹ 4,20,000; Balance of Provision for Depreciation A/c on 31st March, 2023 ₹ 1,05,000; Loss on sale of first machine ₹ 1,47,500; Gain on sale of second machine ₹ 25,000.]
Solution:-
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