On 1st October, 2022, Rupa Rice Mill purchased a second-hand machine for ₹ 2,80,000 and spent ₹ 20,000 on its installation. On 1st July 2023 additional machinery costing ₹ 1,00,000 was purchased. On 30th September, 2025,
CS CSEET · Fundamentals of Accounting · PYQS · October 2026
On 1st October, 2022, Rupa Rice Mill purchased a second-hand machine for ₹ 2,80,000 and spent ₹ 20,000 on its installation. On 1st July 2023 additional machinery costing ₹ 1,00,000 was purchased. On 30th September, 2025, the machinery purchased on 1st October 2022 was sold for ₹ 1,40,000. The books are closed 31st March every year and depreciation is charged 10% p.a. on the written down value. Prepare Machinery Account for four accounting years ending 31st March, 2026.
Topics: Depreciation
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