[ISC] Q 33 Solution Depreciation TS Grewal Class 11 (2023-24)

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Solution of Question number 33 Depreciation TS Grewal class 11 ISC 2023-24?

You are given following balances as on 1st April, 2022:

Machinery Account
Provision for Depreciation Account
₹ 12,50,000
₹ 2,90,000

Depreciation is charged on machinery at 20% p.a. by the Diminishing Balance Method. A piece of machinery purchased on 1st April, 2020 for ₹ 2,50,000 was sold on 1st October, 2022 for ₹ 1,50,000.

Prepare Machinery Account and Provision for Depreciation Account for the year ended 31st March, 2023.


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