Business, 11.12.2021 18:00 mayhy100

X Ltd. has imported a machine on Oct. 1, 2011 for Rs. 1,28,000, paid customs duty and freight Rs. 64,000 and incurred erection charges Rs. 48,000. Another local machinery costing Rs. 80,000 was purchased on April 1, 2012. On Oct 1, 2013 a portion of the imported machinery (value one third) got out of order and was sold for Rs. 27,840. Depreciation to be calculated at 20% p. a. on original cost basis. (SLM) Prepare Machinery Account for the first three years ending 31 March 2014.

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X Ltd. has imported a machine on Oct. 1, 2011 for Rs. 1,28,000, paid customs duty and freight Rs. 64...