Berlia Ltd. purchased a second hand machine for ₹ 56,000 on October 01, 2018 and spent ₹ 24,000 on its repair and installation and ₹ 5,000 for its carriage. Depreciation is provided on machinery @ 10% p.a on Diminishing Balance Method on March 31 every year. Prepare machinery account and depreciation account from year ended 31st March 2019 and 31st March 2020.

Answer rating: 100% (QA)

To prepare the machinery account and depreciation account for the years ending March 31 2019 and Mar... View the full answer