[ISC] Q 10 Solution Depreciation TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 10 Depreciation TS Grewal class 11 ISC 2022-23?

On 1st July, 2016, A Co. Ltd purchased second-hand machinery for ₹ 20,000 ad spent ₹ 3,000 on reconditioning and installing it. On 1st January, 2017, the firm purchased new machinery of ₹ 12,000 on 30th June, 2018, the machinery purchased on 1st January, 2017 was sold for ₹ 8,000 and on 1st July, 2018, a fresh plant was installed. Payment for this plant was to be made as follows:

1st July, 20185,000
30th June, 20196,000
30th June, 20205,500

Payments in 2019 and 2020 include interest of ₹ 1,000 and ₹ 500 respectively.

The company writes off 10% on the original cost. The account are closed every year on 31st March, Show Machinery Account for the year ended 31st March, 2019.

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