[ISC] Q 14 Solution Depreciation TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 14 Depreciation TS Grewal class 11 ISC 2022-23?

A firm purchased a second-hand machine on 1st April, 2017 and paid ₹ 1,40,000 for it. It spent on its overhauling and installation ₹ 20,000. On 1st October, 2017, another machine costing ₹ 80,000 was purchased. On 1st October, 2019, the machine purchased on 1st April, 2017 was sold for ₹ 1,04,000 and a new machine costing ₹ 2,00,000 was installed. Depreciation was provided @ 10% p.a. by the Straight Line Method. Give the Machinery Account and Depreication Account for 3 years. Firm’s books are closed on 31st March.

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