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Laxmi Limited purchased a machine for Rs.400000 on 1st july,2005.Depreciation is provided @ 10 p.a. on the Diminishing Balance Method on 1st october,2007,one fourth of the machine was found

Laxmi Limited purchased a machine for Rs.400000 on 1st july,2005.Depreciation is provided @ 10 p.a. on the Diminishing Balance Method on 1st october,2007,one fourth of the machine was found unsuitable and disposed off for Rs.60,000. On the same date a new machine at acist of Rs.1,50,000 was purchased. Prepare machine account from 2005 to 2008. The accounts are closed on 31st december each year

Aug 17 2021 View more View Less

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