Q No$\mathrm{.}5$ A$)$: ABC & Co imported machine from Italy at Rs$\mathrm{.}1256,000,$ Co$.$ paid freight charges Rs$\mathrm{.}75,000$ and insurance in transit Rs$\mathrm{.}25000.$ Co also paid import duty Rs$\mathrm{.}235,000$ and transportation charges Rs$\mathrm{.}5000.$ Foundation and installation cost incurred Rs$.125,000.$ Test run cost incurred Rs$\mathrm{.}15,000.$ Estimated life of the machine is $20$ years and expected scrap value is Rs$\mathrm{.}250,000.$

B$)$ Prepare journal entries of the following cases:

$1)$ Assume, that office equipment purchased $10$ years ago at a cost of $$20,000$ has been fully depreciated and is no longer useful.

$2).$ Assume that a machine costing $$20,000$ had accumulated depreciation of $$18,000$ and a book value of $$2,000$ at the time it was sold for $$3,000$ cash.