[ISC] Q 14 Solution Depreciation TS Grewal Class 11 (2023-24)
Solution of Question number 14 Depreciation TS Grewal class 11 ISC 2023-24?
On 1st April, 2021, Machinery Account of Karan shows a balance of ₹ 96,000 (original cost ₹ 1,20,000). On 1st August, 2021, a machine for ₹ 60,000 was purchased and ₹ 9,000 were incurred for its freight and installation. On 1st Septemeber, 2022, another new machine was purchased for ₹ 50,000 by cheque, but the machine started functioning on 1st November, 2022.
Depreciation was charged @ 10% p.a. by the Straight Line Method. Give the necessary entries in the books of Karan and show Machinery Account for two years ended 31st March, 2022 and 2023.
Solution:-
