Solution of Question number 37 Depreciation TS Grewal class 11 ISC 2023-24?
On 1st October, 2016, X Ltd. purchased machinery for ₹ 2,50,000. A part of machinery which was purchased for ₹ 20,000 on 1st October, 2016 became obsolete and was sold on 1st January, 2019 (having a book value ₹ 17,100 on 1st April, 2018) for ₹ 2,000. Depreciation is charged @ 10% annually on written down value. Prepare Machinery Disposal Account and also show your workings. The books being closed on 31st March, of every year.