Reliance Ltd. Purchased a second hand machine for `Rs.` 56,000 on October 01, 2011 and spent `Rs.` 28,000 on its overhaul and installation before putting it to operation. It is expected that the machine can be sold for `Rs` 6,000 at the end of its useful life of 15 years. Moreover an estimated cost of `Rs.` 1,000 is expected to be incurred to recover the salvage value of `Rs.` 6,000 Prepare machine account and Provision for depreciation account for the first three years charging depreciation by fixed installment Method. Accounts are closed on March 31, every year.

On July 01, 2010, Ashok Ltd. Purchased a Machine for Rs. 1,80,000 and spent Rs. 12,000 on its installation. At the time of purchase it was estimated that the effective commercial life of the machine will be 12 years and after 12 years its salvage value will be Rs. 12,000 Prepare machine account and depreciation Account in the books of Ashok Ltd. For first three years, if depreciation is written off according to straight line method. The account are closed on December 31st, every year

On 1st April, 2016, Shivam Enterprise purchased a second-hand machinery for Rs 52,000 and spent Rs 2,000 on cartage, Rs 3,000 on unloading, Rs 2,000 on installation and Rs 1,000 as brokerage of the middle man. It was estimated that the machinery will have a scrap value of Rs 6,000 at the end of its useful life, which is 10 years. On 31st December 2016, repairs and renewals amounted to Rs 2,500 were paid. On 1st October, 2018, this machine was sold for Rs 30,600 and an amount of Rs 600 was paid as commission to an agent. Calculate the amount of annual depreciation and rate of depreciation. Also prepare the Machinery Account for first 3 years, assuming that firm follows financial year for accounting.

On April 01, 2010, Bajrang Marbles purchased a Machine for Rs. 1,80,000 and spent Rs. 10,000 on it s carriage and Rs. on its installation. It is estimated that its working life is 10 years and after 10 years its scrap value will be Rs. 20,000 (a) Prepare Machine account and Depreciation account for the first four years by providing depreciation on straight line method. Accounts are closed on March 31st every year (b) Prepare Machine account, Depreciation account and Provision for depreciation account (or accumulated depreciation account) for the first four years by providing depreciation using straight line method accounts are closed on March 31 every year.

Astha Engineering Works purchased a machine on 1st July, 2015 for Rs 1,80,000 and spent Rs 20,000 on its installation. On 1st April, 2016, it purchased another machine for Rs 2,40,000. On 1st October, 2017, the machine purchased on 1st July, 2015 was sold for Rs 1,45,000 plus CGST and SGST "@ "6% each. On 1st January, 2018, another machine was purchased for 4,00,000 plus IGST "@ "12% . Prepare the Machinery Account for the years ended 31st March, 2016 to 2018 after charging Depreciation "@ "10% p.a. by Diminishing Balance Method. Accounts are closed on 31st March every year.

A machine is purchased for Rs 1,60,000 and it is estimated that after its estimated useful life of 4 years its scrap value would be Rs 10,000. It is decided to depreciate the machine by the Diminishing Balance Method. Find out the per cent rate of Depreciation per annum.

M/s Sahani Enterprises acquired a printing machine for Rs. 40,000 on July 01, 2014 and spent Rs 5,000 on its transport and installation, Another machine for Rs. 35,000 was purchased on January 01. 2016 . Depreciation is charged at the rat of 20% on witten down value. Prepare Printing Machine account

On 1st October, 2015, Ram & Bros. purchased a second-hand machine for Rs 1,80,000 and spent Rs 20,000 on its repair and installation. On 30th September, 2018, the machinery was sold for Rs 1,40,000 and an amount of Rs 4,000 was paid as dismantling charges. The books are closed on 31st March every year and depreciation is charged "@ " 10% p.a. on the written down value. Show Machinery Account from the date purchase of machinery till the date of sale of machinery.

On 1st April, 2016, X Ltd. Purchased a machine costing Rs 4,00,000 and spent Rs 50,000 on its installation. The estimated life of the machinery is 10 years, after which its residual value will be Rs 50,000 only. Find the amount of annual depreciation according to the Fixed Instalment Method and prepare Machinery Account for the first three years. The books are closed on 31st March every year.