Sameer & Company, Mumbai purchased a Machine worth ₹2,00,000 on 1st April 2016. On 1st July 2017, the company purchased an additional Machine for ₹40,000 | Show the Machinery Account and Depreciation Account for the first three years ending 31st March 2016-17, 2017-18 and 2018-19

5. Sameer & Company, Mumbai purchased a Machine worth ₹2,00,000 on 1st April 2016. On 1st July 2017, the company purchased an additional Machine for ₹40,000.

On 31st March 2019, the company old the Machine purchased on 1st July 2017 for ₹35,000. Company writes off depreciation at the rate of 10% on the original cost and the books of accounts are closed every year on 31st march.

Show the Machinery Account and Depreciation Account fo the first three years ending 31st March 2016-17, 2017-18 and 2018-19

Solution:

Machinery Account

Date	Particulars	JF	Amount	Date	Particulars	JF	Amount
2016				2017
1st April	To Cash/Bank		2,00,000	31st March	By Depreciation		20,000
				31st March	By Balance c/d		1,80,000
			2,00,000				2,00,000
2017				2018
1st April	To Balance b/d		1,80,000	31st March	By Depreciation		23,000
1st July	To Cash/Bank		40,000
				31st March	By Balance c/d		1,97,000
			2,20,000				2,20,000
2018				2019
1st April	To Balance b/d		1,97,000	31st March	By depreciation		24,000
				31st March	By Cash/bank		35,000
2019
31st March	To profit on sale		2,000
				31st March	By Balance c/d		1,40,000
			1,99,000				1,99,000
Depreciation Account
Date	Particulars	JF	Amount	Date	Particulars	JF	Amount
2017				2017
31st March	To Depreciation		20,000	31st March	By Profit & Loss A/c		20,000
			20,000				20,000
2018				2018
31st March	To depreciation		23,000	31st march	By Profit & Loss A/c		23,000
			23,000				23,000
2019				2019
31st march	To Depreciation		24,000	31st March	By profit & Loss A/c		24,000
			24,000				24,000

Depreciation Calculator Tool