[ISC] Q 34 Solution Depreciation TS Grewal Class 11 (2022-23)

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Are you looking for the solution of Question number 34 Depreciation TS Grewal class 11 ISC 2022-23?

You are given following balances as on 1st April, 2021:

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, 2019 for ₹ 2,50,000 was sold on 1st October, 2021 for ₹ 1,50,000.

Prepare Machinery Account and Provision for Depreciation Account for the year ended 31st March, 2022.

Solution:-

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