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प्रश्न
On 1st April 2008, Sudha and Company purchased machinery for ₹ 64,000. To instal the machinery expenses incurred was ₹ 28,000. Depreciate machinery 10% p.a. under straight-line method. On 30th June, 2010 the worn out machinery was sold for ₹ 52,000. The books are closed on 31st December every year. Show machinery account.
बेरीज
उत्तर
| Date | Particulars | ₹ | |
| 01.04.2008 | Machinery purchased | 64,000 | |
| 01.04.2008 | Add: Instal expenses | 28,000 | |
| Original or total cost | = | 92,000 | |
| 31.12.2018 | Less: Depreciation @ 10% for 9 months | = | 6,900 |
| 01.01.2009 | Book Value | = | 85,100 |
| 31.12.2009 | Less: Depreciation @ 10% | 9,200 | |
| 01.01.2010 | Book Value | = | 75,900 |
| 30.06.2010 | Less: Depreciation @ 10% for 6 months | = | 4,600 |
| Book Value | = | 71,300 |
If the Book value is more than the selling price it is called loss.
Book value – selling price = loss
⇒ 71,300 – 52,000 = 19,300
Loss on sale of machinery is = 19,300
Machinery A/c
| Dr. | Cr. | ||||||
| Date | Particulars | L.F. | ₹ | Date | Particulars | L.F. | ₹ |
| 01.04.08 | To Bank A/c (64,000 + 28,000) |
92,000 | 31.12.08 | By Depreciation A/c | 6,900 | ||
| 31.12.08 | By Balance c/d | 85,100 | |||||
| 92,000 | 92,000 | ||||||
| 01.01.09 | To Balance b/d | 85,100 | 31.12.09 | By Depreciation A/c | 9,200 | ||
| 31.12.09 | By Balance c/d | 75,900 | |||||
| 85,100 | 85,100 | ||||||
| 01.01.10 | To Balance b/d | 75,900 | 30.06.10 | By Depreciation A/c | 4,600 | ||
| 30.06.10 | By Bank A/c | 52,000 | |||||
| 30.06.10 | By Profit and loss A/c | 19,300 | |||||
| 75,900 | 75,900 | ||||||
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Calculation of Profit Or Loss on Sale of Asset
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