M/s J.K. Company,
Maroda, purchased machinery for Rs. 80,000 on 1st April 2002.
Company purchased additional machinery for Rs. 36,000 on 1st
October, 2003. The company charges depreciation @10% p.a. on the original cost.
The financial year of the Company ends on 31st March every year. On
30th September, 2004 a part of the machinery, original cost of which
was Rs. 30,000 on 1st April, 2002 was sold by the Company for Rs.
22,000. Prepare Machinery account for 3 years and give journal entries for the
year 2002 – 2003. [MARCH 2009].
|
DATE
|
PARTICULARS
|
AMOUNT
|
DATE
|
PARTICULARS
|
AMOUNT
|
|
1.4.02
|
To cash/bank a/c
|
80000
|
31.3.03
|
By depreciation a/c
|
8000
|
|
|
|
|
31.3.03
|
By balance c/d
|
72000
|
|
|
|
80000
|
|
|
80000
|
|
1.4.03
|
To balance b/d
|
72000
|
31.3.04
|
By depreciation a/c
|
9800
|
|
1.10.03
|
To cash/ bank a/c
|
36000
|
31.3.04
|
By balance c/d
|
98200
|
|
|
|
108000
|
|
|
108000
|
|
1.4.04
|
To balance b/d
|
98200
|
30.9.04
|
By depreciation a/c
|
1500
|
|
|
|
|
30.9.04
|
By cash/ bank a/c
|
22000
|
|
|
|
|
30.9.04
|
By profit / loss a/c
|
500
|
|
|
|
|
31.3.05
|
By depreciation a/c
|
8600
|
|
|
|
|
31.3.05
|
By balance c/d
|
65600
|
|
|
|
98200
|
|
|
98200
|
|
1.4.05
|
To balance b/d
|
65600
|
|
|
|
