A Plant was purchased on 1st July, 2015 at a cost of `Rs.` 3,00,000 and `Rs.` 50,00 were spent on its installation. The depreciation is written off at `15%` p.a. on the straight line method. The plant was sold for `Rs.` 1,50,000 on October `Rs.` 4,00,000. including purchasing value. The accounts are closed on December 31 every year.
Show the machinery account and provision for depreciation account for 3 years.

Explanation

Loss on sale of Plant `Rs.` 81,875.
Balance of Machine account as on 31.12.17 `Rs.` 4,00,000.
Balance of Provision for Depreciation account as on 31.12.17 `Rs.` 15,000