Samarth Manufacturing C. ltd, Aurangabad, purchased a new Machinery for ₹45,000 on 1t Jan 2015amd immediately spent ₹5,000 on its fixation and erection. In the same year 1st July additional Machinery costing ₹25,000 was purchased. On 1st July 2016 the Machinery purchased on 1st Jan 2015 became obsolete and was sold for ₹40,000 | You are required to prepare Machinery Account for the year 2014-15, 2015-16, 2016-17 |

Samarth Manufacturing C. ltd, Aurangabad, purchased a new Machinery for ₹45,000 on 1t Jan 2015amd immediately spent ₹5,000 on its fixation and erection. In the same year 1st July additional Machinery costing ₹25,000 was purchased. On 1st July 2016 the Machinery purchased on 1st Jan 2015 became obsolete and was sold for ₹40,000

Depreciation was provided for annually on 31st March at the rate of 10% per annum on fixed Instalment Method.

You are required to prepare Machinery Account for the year 2014-15, 2015-16, 2016-17.

Solution: /span>

Machinery Account

Date	Particulars	JF	Amount	Date	Particulars	JF	Amount
2015				2015
1st Jan	To Cash/Bank		50,000	31st March	By Depreciation		1,250
				31st March	By Balance c/d		48,750
			75,000				75,000
2015				2016
1st April	By Balane b/d		48,750	31st March	By depreciation		6,875
1st July	To Cash/Bank		25,000	31st March	By Balance c/d		66,875
2016				2016
1st April	To Balance b/d		66,875	1st July	By Depreciation		1,250
				1st July	By Cash/Bank		40,000
				1st July	By Loss on sale		2,500
				2017 31st March	By Depreciation		2,500
				31st March	By Balance c/d		20,625
			66,875				66,875

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Depreciation Calculator along with month and percentage