Solution of Question number 17 Depreciation TS Grewal class 11 ISC 2023-24?
Following balances exist in the books of Rama Bros.:
|1st April, 2022||Machinery Account|
Provision for Depreciation Account
On 1st April, 2022, they sold a machine for ₹ 8,700. This machine was purchased for ₹ 16,000 in April, 2018. You are required to prepare Provision for Depreciation Account and Machinery Account on 31st March, 2023, the depreciation being charged @ 10% p.a. by Straight Line Method.